18 April 2023
Son has purchsed house property from father for Rs 50,000 in Dec 2012. Stamp duty paid on value of 25 Lakh with proper sale deed. Son sold same house property for 49 Lakh in Nov 2021 with proper sale deed. 1. Should purchase price be taken as Rs 50,000 or Rs 25 lakh or 2. Will the amount of 24.5 lakh gets taxed under income from other sources
CAclubindia
