Dear All,
I have invested 5 lakhs as a booking amount on Octber 2012 to purchase new house to one of the property developers in my town, total value of the house would be 60 lakhs. i have time to pay the whole amount in 2 years and im planning to get housing loan also.
i want to know whether this invested amount is taxable or not during this Financial year 2013-2014.
regards
Mohammad ayub
It is a payment not earning. It is not taxable. I hope your documents with the builder are foolproof.
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