banner_ad

Profit on sale of building not shown fully in last year return how to consider in return

Tax queries 123 views 1 replies

Dear Members,

 

One of my client was sold property last year property for Rs.60,00,000 but consideration received amounting to Rs.80,00,000 but he  repaid amount of Rs.10,00,000 the balance amount of Rs.10,00,000 he has not repaid as per sale deed only Rs.60,00,000 is the consideration how to consider the balance amount of Rs.10,00,000 in current year ITR which is not repaid.

 

Thanks and Regards

 

Ravindra

 

Replies (1)

Is it refundable or not?

Depending upon clause of the agreement for additional amount........

Either the gain to be revised to 70 lakhs  sale consideration.........

Or offer the additional amount under IFOS in current year.

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details