Understand from few sources(not very sure though) that a seller cannot get a refund to his bank account rather the capital loss can only be carry forwarded to next 8 years against Capital gain only. If I pay 5.32 Lakhs to seller then he cannot claim refund on this but will happily use my amount against his capital gain or Capital loss. Can you please help me understand the logic if he can really get refund and in what scenario can he get refund - in capital gain or Capital loss scenario?. My details below
- Sale consideration value 56lakhs
- Both buyer and seller are Joint owners
- So paid 28lakh each to both seller
- For one of the seller PAN adhar was not linked and hence recd a demand of 5.32 Lakhs