Taxablity of advance money
This query is : Resolved
01 June 2014
ASSESSEE RECEIVED ADVANCE FOR SALE OF HIS AGRICULTURE LAND BUT DEAL WAS CANCELLED AND ADVANCE MONEY FORFEITED BY ASSESSEE IS IT TAXABLE?? it is advance money for sales AGRICULTURE land. reply fast please its urgent.
and also this agriculture land is received as gift to parental of assessee.
and also this agriculture land is received as gift to parental of assessee.
01 June 2014
it is not taxable as its cap receipt and also it was for agricultural land.
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