capital gain
tanvi jain (23 Points)
02 August 2019
what is the concept of advance money forfeited under section 51?
3 Replies
CA PREM KUMAR
(Chunduru & Co)
(296 Points)
Replied 02 August 2019
will be taxed under income from other source under section-56(2)(ix)
DHRUV PATEL
(5 Points)
Replied 02 August 2019
advance forfeited money is not taxed in the year when it forfeit but it will deduct from the cost of asset.
Aman Shivharey
(78 Points)
Replied 03 August 2019
if advance is recieved before 2014 april then it will be deducted from COA of asset and if it recieved after apr2014 then it has to be shown as income from other sources
Recent Topics
- Gratuity under CTC
- GST refund paid as estimated tax liability
- Salary Income and Professional services income
- Sec 54 and TDS on sale of property
- Airbnb Manager - I manage properties for owners
- Wrong head ed for late fee
- Inter Company trnafer
- Job work-Reg
- Who is liable to pay GST if bank charges excl GST
- Cost of Acquisition IPO cases
Related Threads
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
