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Author Topic: Whether deduction u/s. 80IB (10) would be allowable on forfeited amount?  (Read 5048 times)

Advocate Anumita

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Whether deduction u/s. 80IB (10) would be allowable on forfeited amount?
« on: January 29, 2013, 01:25:34 PM »
A builder sold a flat and received a token amount (say Rs. 10 lac) as advance. The buyer did not buy the flat and the advance money got forfeited. Whether deduction u/s. 80IB (10) would be allowable on such forfeited amount?

Thanks!
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