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capital gain

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23 Points Posted on 02 August 2019
what is the concept of advance money forfeited under section 51?
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On 02 August 2019 at 13:50 Report
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Chunduru & Co
296 Points Posted on 02 August 2019

will be taxed under income from other source under section-56(2)(ix)

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On 02 August 2019 at 20:03
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5 Points Posted on 02 August 2019
advance forfeited money is not taxed in the year when it forfeit but it will deduct from the cost of asset.
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On 02 August 2019 at 21:08
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78 Points Posted on 03 August 2019
if advance is recieved before 2014 april then it will be deducted from COA of asset and if it recieved after apr2014 then it has to be shown as income from other sources
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On 03 August 2019 at 03:02


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