santosh kumar huded
(Querist) 23 January 2014
This query is : Resolved
sir, one of my friend, who is builder owner of commercial complex, was inspected by intelligence authorit. He has collected booking advance from prospective buyers. Now my friend say certain booking are cancelled , what are consequences of tax for the cancelled booking and the amount cancelled amount will be repaid over the period of time considering them as unsecured loans. kindly suggest correct method to be followed both for taxation and accounting and also kindly suggest case laws, if any - kindy reply urgently.
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santosh kumar huded
(Querist) 23 January 2014
This query is : Resolved
