Capital gain
This query is : Resolved
14 August 2016
sir, i had purchase a land on 14/07/2014 on Rs.1,00,000 from my cousin bhabhi , but the government rate is mention Rs. 11,00,000/- on which i had paid the stamp cost Rs. 105950/- Now income tax department has noticed me to calculate the difference amount as income from other sources as well as the department has also noticed to my bhabhi to deposite the capital gain tax. Now my question is the money neither paid by nor received by my bhabhi. Rs transaction is not done but on which ground we both will pay tax.
15 August 2016
please go through section 50C.
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- Specified Profession
- Agriculture income or business income
- Suggestions required for income tax filing-software (FY 2025-26)
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Taxation on LTCG for property sold after 24JUL2024
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
