Taxability of disclosure amount during search
This query is : Resolved
shweta bombe
(Querist)
15 April 2014
A LTD is a developer, following percentage completion method. Amount disclosed during search is to be a part of agreement value of residential flats. Since the project is in under constuction.
As the amount disclosed, will accrue in future.
So taxability will be in the year of disclosure or year of accrual ?
Reply
As the amount disclosed, will accrue in future.
So taxability will be in the year of disclosure or year of accrual ?
Reply
15 April 2014
it will be in year of realisation of amount in future.
Rupesh Jain
(Expert)
16 April 2014
when your flat sale then sale is consider
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