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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 October 2014 why advance money forfieted by previous owner is not deductible ?
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CA VISHWAKEERTHI.P.S.

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CA VISHWAKEERTHI.P.S. (Expert)
18 October 2014 Definitely not deductible .

But in the hands of owner cost of the assets for which advance received will be reduced to the extent of advance amount forfeited.
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 October 2014 what is da reason behind it ??
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 October 2014 This is a compensation to the seller as he has to find a new buyer and also for delay in realization of money.
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Anand

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Anand (Expert)
20 October 2014 Can u please explain with example !!
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 October 2014 but the so calld compensation is deducted from the cost when we calculate CG..
den hw can it b a cmpnstn..????
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 October 2014 For the purpose of income tax any compensation received will be under the purview of income tax.
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 October 2014 Can u explain wth an example..??
Not satisfied wth the answer !!..
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