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REGARDING APPLICABILITY OF SECTION 56(2)(vii) TO THE PURCHASER OF IMMOVABLE PROPERTY

This query is : Resolved 
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27 March 2023 IS SECTION 56(2)(vii) APPLICABLE TO THE "PURCHASER" OF IMMOVABLE PROPERTY IN CASE WHERE THE DIFFERENCE BETWEEN PURCHASE CONSIDERATION AND STAMP DUTY VALUE EXCEEDS RS. 50000/- ?
AND SUCH DIFFERENCE SHALL BE INCLUDED IN THE TOTAL INCOME OF SUCH PURCHASER IN THE HEAD OF OTHER SOURCE?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
27 March 2023 1. Yes.
2. Correct.
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