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token amount

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(Querist)
07 March 2009 token amount given on purchase and after on cancellation of contract wht is treatment for token amount
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Jitender

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Jitender (Expert)
07 March 2009 if it is not returned then it will be deducted while computing capital gains at the time of sale. (sec 51)
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
08 March 2009 For the giver, the treatment given by Mr.jitender is correct
For the receiver, it would be taxable.
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