what if i return 2 lakh to the buyer through chequeeither way you will have to acount for that 2 Lakhs
shouldnt be a problemwhat if i return 2 lakh to the buyer through cheque
First capital gains is applicable on gains only and not sale value. What is your acquisition price of property? You need to index it since the purchasing year with calculator available in IT website. Then from sale price subtract that value. This is your capital gain.what if i return 2 lakh to the buyer through cheque