Taxability on forfeited amount

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..... An Assessee has received an advance against property, on non payment of balance consideration, the advance is forfeited, whether this forfeited amount is subject to Income Tax in the year, in which it .....

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..... is received/forfeited - Reply By Dinesh Gupta - The Reply = It depends on the nature of property. If the property is in the nature of capital asset and liable to be taxed as Capital Gains, the amoun .....

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..... t so forfeited shall be deducted from the cost of purchase of such assets and shall be taxed in the year of actual sale. - Taxability on forfeited amount - Query Started By: - Anup Kumar Grover Dated .....

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..... :- 11-7-2009 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxma .....

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..... nagementindia.com - TMI - TaxTMI - TMITax .....

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