Capital gain issue & Notice U/s 50 c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2011
one of my client got notice u/s 50C from IT dept.She sold land in 2008 which is purchase in 2005.In sale deed value shown 300000 and the buyer pay stamp duty about on 1300000.though pan no. is not given by her,she got notice.now the Question is that if LTCG calculate then tax comes more than 350000.my client cannot afforded such big amount of tax.plz ans me..can i go for appeal.
11 July 2011
when he registrar enhanced the stamp duty, did the buyer and seller made any protest or challanged it ? if yes then what is the ouput,
she can challange ITO to depute income tax authorized survayer, but in such situation she has to admit the valuation done by survayer.
she can challange ITO to depute income tax authorized survayer, but in such situation she has to admit the valuation done by survayer.
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