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Sales consideration amount paid as per guideline. But for the sale, received amount in account additional amount over and above declared in document. Can the additional amount treated as related to sale consideration and taxed as capital gains
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Yes, it would be treated as part of sales consideration only and taxed as capital gains.
You may claim capital gain tax exemption by reinvesting the capital gains into a new residential house property under section 54 or section 54 EC eligible bonds within the stipulated time limits
We may assist you in entire tax planning.
It is advisable to take a phone consultation for detailed discussion.
Yes, the additional amount can be considered for the capital fain calculation. However, it would depend upon the surrounding facts and documents in this regard.
I hope the additional amount is not taken in cash.
Yes, if the excess amount is in connection with the sale it will definately be treated as sale consideration.
If the amount is received for any other transaction, you should justify the reason and documents for such additinal receipts.