Capital gain
This query is : Resolved
AMIT AGRAWAL
(Querist)
02 July 2013
JAI SHREE KRISHNA
SIR I WANT TO PURCAHSES A AGRICULTURE LAND FOR RS 25 LACS, BUT CIrCLE RATE IS RS 40/- LACS WLL MY CASE COVER UNDER SECTION 56 (VII)(b) IF NOT CAN I REGITER SALE DEED FOR RS 25/- LACS PLEASE ANSWER WITH REASON.
SIR I WANT TO PURCAHSES A AGRICULTURE LAND FOR RS 25 LACS, BUT CIrCLE RATE IS RS 40/- LACS WLL MY CASE COVER UNDER SECTION 56 (VII)(b) IF NOT CAN I REGITER SALE DEED FOR RS 25/- LACS PLEASE ANSWER WITH REASON.
CA PARAS BAFNA
(Expert)
02 July 2013
56 (vii)(b) does not apply to you. As some consideration is being paid by you. It applies when the property is acquired without paying any consideration.
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S 50C will be applicable to the seller.
.
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S 50C will be applicable to the seller.
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