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Capital gain

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(Querist)
06 June 2014 I PURACHSED A LAND IN PARTNERSHIP FOR RS 10/- LACS CIRCLE RATE IS RS 25/- LACS . IS THERE ANY PROBLEME, WHETHER SEC 56(2)(vii) Applicable
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 June 2014 you purchased in partnership as in two people buying jointly or in a partnership firm?

56(2)(vii) wont apply to partnership firm but will apply to joint purchases.

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