25 May 2009
SIr, the assessee has purchase the property from builder in 61 Lakh.As per agreement assessee pay the amount Rs. 5Lakh on 5/8/06,41Lakh 5/9/06 & balance 15 Lakh after completion,but before completion builder failed to construct & assessee has not pay him 15 Lkah, the assessee sold it to other for Rs. 85 Lakh Mode 10Lakh 23/08/08,12Lakh 03/12/08,33Lakh on 14/02/09 & 30Lakh 31/05/09. So kindly suggest me that income is bifergated in 3 Yrs or this income is of 1 year & how many Tax Liability on assessee.
25 May 2009
ur query is incomplete.....kindly tell when you got the possession of the property..and when you transfer the possession of the property, this point is material.
you may send directly to me at :- cabharatbhushan@gmail.com
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