Tax on advance received for sale of property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2013
I have received advance of Rs. 3 Cr on 2nd December for Sale of Property. The remaining amount is receivable in 3 months time. Am I liable to pay any advance Tax till 15th December
13 December 2013
ON ADVANCE RECEIVED BEFORE THE TRANSFER OF PROPERTY TO BUYER ,ADVANCE TAX LIABILITY DOES NOT ARISE.
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