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Amount refund by seller be considered a taxable transaction?
18-Mar-2023 (In Tax Law)
A gift of money given to one’s wife, daughter, son, or husband, is usually not taxable under Indian law. I received a money gift from my husband and used it to buy property. The seller of the property however, changed his mind about selling and refunded the money back to me. Would such a refund now be considered a taxable transaction?
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Adv. Deepak Thackur
Adv. Deepak Thackur
Delhi | 25+ Answers
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