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.
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Putting a heading on received mail
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- Reprocessing of rectification order AY 2025-26
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
