https://www.taxtmi.com/manuals?id=948 Forfeited advances received in negotiations for transfer of a capital asset reduce the cost of acquisition, fair market value or written down value for capital gains computation if forfeited before 01.04.2014; forfeitures on or after 01.04.2014 are taxable to the seller as Income from Other Sources and are not deductible from the asset's cost. Buyer-side forfeitures generally do not qualify as capital loss; extinguishment of rights (e.g., forfeiture of shares for non-payment of calls) can give rise to short-term capital loss. en-us Tue, 25 Aug 2015 15:00:00 +0530 Fri, 22 Mar 2024 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=948 Forfeited advances received in negotiations for transfer of a capital asset reduce the cost of acquisition, fair market value or written down value for capital gains computation if forfeited before 01.04.2014; forfeitures on or after 01.04.2014 are taxable to the seller as Income from Other Sources and are not deductible from the asset's cost. Buyer-side forfeitures generally do not qualify as capital loss; extinguishment of rights (e.g., forfeiture of shares for non-payment of calls) can give rise to short-term capital loss. Manuals Income Tax Tue, 25 Aug 2015 15:00:00 +0530 https://www.taxtmi.com/manuals?id=948