For appeal
This query is : Resolved
NITIN SHETH
(Querist)
10 January 2012
I want to file appeal against order pass by AO u/s 50c of Income Tax Act 1961.
Fact of Case:-
I had Sold a Property of Rs.22,00,000/- but Value determined by AO as per municipal Valn of Rs 64,00,000/- but AO Taxed as CG u/s 50c
help me for Appeal proceeding.
Fact of Case:-
I had Sold a Property of Rs.22,00,000/- but Value determined by AO as per municipal Valn of Rs 64,00,000/- but AO Taxed as CG u/s 50c
help me for Appeal proceeding.
CA. Krishna K Neeraj
(Expert)
11 January 2012
UNDER 50C OF INCOME TAX ACT, SALE CONSIDERATION FOR A PROPERTY SHALL BE THE VALUE WHICH IS TAKEN FOR PAYMENT OF STAMP DUTY. AO IS CORRECT WHEN MUNICIPAL VALUE IS THE VALUE ADOPTED FOR STAMP DUTY PAYMENT
NITIN SHETH
(Querist)
19 May 2012
can we file appeal regarding to approch valuation office.???????
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