30 December 2015
what would be happen if agreement between Seller A & Buyer B to Sale Property on Specific date.for this B paid 50000 Rs for such .after Few Days B Contract With Other Person D For Sale Of Property And Recived 100000 Rs as Booking Payment . after this A Sale Property to D and charge Capital Gain. My Query is what Happened in Hands Of B who receive 100000 Rs against 50000 Booking Amt it is taxable or not. Gaurav Agarwal Gaziabad
03 January 2016
Yes taxable under the head capital gains. Please refer explanation 1 [read with section 269UA(d)(ii)] and explanation 2 to section 2(47) of IT Act, 1961.
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