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
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.
Sanath Sheshagiri & Co.
Bengaluru
CA Inter
View Details
Suraj Garg and Associates
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
