Inherited money from cancelled property transaction

[sumit sharma]

Hello,

Builder has cancelled the booking of a flat made by my deceased mother and refunded the original booking amount. The amount has been received in mine and my brother's account. Do we need to declare this income in our ITR ?

AI Summary

Refunded Property Booking Amount Must Be Declared in Income Tax Returns, Confirms Query Response A property transaction was cancelled, and the booking amount initially paid by a deceased mother was refunded to her children. The query raised concerns whether this refunded amount needs to be declared in their Income Tax Returns (ITR). The response confirmed that the refunded amount must indeed be declared in their ITR.