Chargeability on surplus received on transfer of booking of
This query is : Resolved
VIKAS SHARMA
(Querist)
24 May 2013
Mr. A booked at flat and paid Rs. 10,00,000/-. After sometime, he transferred it to other person at Rs. 25,00,000/-. Whether the surplus money of Rs. 15,00,000/- is taxable or not ? If yes, under which head ?
Note : The agreement was not been made till the time of transfer and hence the said flat was not registered in the name of Mr. A.
Note : The agreement was not been made till the time of transfer and hence the said flat was not registered in the name of Mr. A.
Guest
Guest
(Expert)
25 May 2013
yes it is chargeable to capital gain.
As the definition of transfer u/s 2(47)includes:
the extinguishment of any rights
As the definition of transfer u/s 2(47)includes:
the extinguishment of any rights
CA.Sourabh Sethia
(Expert)
25 May 2013
Agree with Mr Ashish
VIKAS SHARMA
(Querist)
25 May 2013
Thanks....
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