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Furniture fixtures agreement on sale


12-Mar-2023 (In Property Law)
I have sold my flat. My buyer is saying that he will pay me in two parts: 1. White component which will be on agreement. 2. For the remaining amount he will make a furniture fixture agreement and give me a cheque. My question is will the furniture fixtures amount be considered as my income and will i be liable for an income tax.
Answers (1)

Answer #1
609 votes
if you show that income as your earned income you may be liable for income tax however that depends on the language of the agreement and as per the understanding arrived at between the parties If you wish to not pay the income tax might as well not get involved for the rest of your amount in such an arrangement
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