‘Benefit from scrapped flat deal is capital gain’ - FRANTREPRENUER NEWS

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    Wednesday, 9 September 2020

    Home Mumbai News: Latest Mumbai News Headlines & Coronavirus News Updates from Mumbai - Times of India ‘Benefit from scrapped flat deal is capital gain’

    ‘Benefit from scrapped flat deal is capital gain’

    If a Mumbaikar books a flat, then cancels the deal with the builder, and benefits by receiving a sum higher than the earnest amount paid, the excess will not be treated as a tax-free income. In tax parlance, it will not constitute a capital receipt.

    from Mumbai News: Latest Mumbai News Headlines & Coronavirus News Updates from Mumbai - Times of India https://ift.tt/3ic8Mb9
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