if any advance money is forfeited in case of transfer of capital asset and later on such capital asset is gifted to a friend , what will be the cost of acquisition for that friend to whom such asset is gifted
please tell me , my exams are very close
Menu
Advance money forfeited
Replies (1)
Original COA of donor without the effect of any advance.
(as from AY 2015-16, the forfeited amount is taxable under 'IFOS' u/s.56(2)(ix))
Recent Topics :
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
Related Topics :
CAclubindia
