Surrender of proprty allotment letter
This query is : Resolved
27 May 2015
date of allotment letter of Property
2/5/2012...initial payment Rs. 40000
2nd payment 2/5/13 Rs. 40000
3rd payment 2/5/2014 Rs. 40000
Date of surrender due to non completing of projects 15/5/2015 Money received 240000
kindly suggest the treatment of capital gain in this scenario
27 May 2015
Actually, whatever amount paid you, is in the nature of capital advance. You are not actually, received the 'right to use' or 'possession of the property'.
Further, the property was not transferred to you. Therefore, no capital gain arises.
Further, the property was not transferred to you. Therefore, no capital gain arises.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- FEMA regulation Act. for inward remitance
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
