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Tax on advance received for sale of property

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2013 I have received advance of Rs. 3 Cr on 2nd December for Sale of Property. The remaining amount is receivable in 3 months time. Am I liable to pay any advance Tax till 15th December
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
13 December 2013 ON ADVANCE RECEIVED BEFORE THE TRANSFER OF PROPERTY TO BUYER ,ADVANCE TAX LIABILITY DOES NOT ARISE.
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