Compensation / Liquidated Damages
This query is : Resolved
18 November 2009
Liquidated Damages received for not executing of contract for purchase of property whether capital or revenue???
18 November 2009
capital
18 November 2009
If it is treated as capital what should be the treatment as per accounts as well as tax????
19 November 2009
under income tax while calculating capital gains on the subsequent sale of the property, it will be deducted from cost of acquisition.
19 November 2009
the property is not owned by the assessee as the contract for purchase of property is not performed then how can he deduct the same from the cost of acquisition????
19 November 2009
where r all the experts????
19 November 2009
its taxable as capital gain.
22 November 2009
What do you mean by "where are all the experts". do you think experts don't have any other work? or they always sit on the computer? you had mentioned nothing in your question as to who had cancelled the deal, buyer or seller?
22 November 2009
Agree with Expert shakuntala
22 November 2009
please write again your question and give all facts relevent to that. okk...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
