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....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- ETDS return q4 25-26
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GST input credit on commercial property
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
