i receved token money against land sale of rs.100000.00 but patry failure to purchase of land & his token money 100000/- forfeited ,then waht will be treated of rs. 100000/- for me,, pls sugest with section of income tax. thanks in advance
Menu
Forfeit amt of land sale
Replies (2)
As per Section 51 of IT Act this token money will be deducted from cost of acquisition of the owner while calculating capital gain chargeable to tax when he sells this asset in future.
Thank You Richa For erlier reply...
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
