Dear Sir,
I have booked under construction flat for Rs. 25 lac and make booking amount of Rs. 7.5 lac on 25th november 2016, but after some personal reasion I will cancel booking and ask for refund of booking money. According to agreement builder deduct 10% of considration value of flat, service tax and legal charges 1%. So after deduction he refund me Rs. 4.55 Lac on 22nd March 2017.
So now how can I show this loss in Income Tax. Please give details that in ITR3 where and under which head I show this loss, is it adjustable with other income or it will carryforward to next year. Please clerify it. Thanks
Sunil Agarwal
CAclubindia
