Income tax on sale of land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2017
sir/madam i sold an agricultural land Rs 825000/- and i am recevied cash 400000/- and 425000/- in thrugh cheque..... kya mere upar pure amt 825000/- pr tax liabilities ayege kya???? jabki mene only 425000/- ko hi books me dikhaya h
plzz help
plzz help
09 June 2017
Stamp duty value will be taken as sale consideration for calculating capital gain. As per section 269SS you cannot receive cash in excess of Rs 20000/- towards payment by way of advance or otherwise in respect of an immovable property.
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