Hello,
Builder has cancelled the booking of a flat made by my deceased mother and refunded the original booking amount. The amount has been received in mine and my brother's account. Do we need to declare this income in our ITR ?
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Inherited money from cancelled property transaction
Replies (2)
not at all..
This was your mother's money (booking amount) which has been now refunded by builder. it's a capital receipt and no disclosure in ITR
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