Taxability of income.

This query is : Resolved

Mohit Kumar Naharia (Querist)
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23 September 2013 Dear expert,

I have a que. regarding taxability of income,

I want purchase a flat for same, I gave advances to builders Rs. 10,00,000on 28/02/2012. Due to default by my side, We didn't do purchase agreement, after some time I canceled my plan of purchasing flat, builders give me 11,00,000/- rs. on 25/05/2013 or 28/01/2013.

So sir my que. is above 1,00,000/- rs. that i received, in which head taxable STCG or Other sources.

CA Rinkal

CA Rinkal (Expert)
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23 September 2013 hope you pay the earnest money by cheque...

as per my view you should consider the same under capital gain.. as the same is being used for purchase of house.

Mohit Kumar Naharia

Mohit Kumar Naharia (Querist)
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23 September 2013 Dear Bro,

it is right that I was received money through cheque.

not satisfaction ans.

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CA Rinkal

CA Rinkal (Expert)
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24 September 2013 dear..

i think you should go for capital gain only as the same is being income from investment in capital assets.