Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Issue<br />
• Whether advance money received &<br />
retained is to be deducted from cost <strong>of</strong><br />
acquisition or indexed cost <strong>of</strong><br />
acquisition<br />
• Section 48 amended wef 1-4-19931993<br />
consequential amendment to section<br />
51 not done<br />
• Advance received more than cost <strong>of</strong><br />
acquisition