Section 56(2)(vii)

This query is : Resolved

Debabrota Roy (Querist)
Follow

31 May 2015 DEAR SIR,
PLEASE ADVISE ME ON THE FOLLOWING SUBJECTS,
CONSIDERATION MONEY RS 38LAKH AND VALUE UNDER 50C RS.39LAKH, NOW THE QUESTION IS THAT IS THE VENDOR OF THE PROPERTY LIABLE TO PAY TAX ON BALANCE OF RE 1 LAKH AS INCOME FROM OTHER SOURCES. AND THE PURCHASER IS ALSO LIABLE TO THE SAME EXTENT.
WITH REGARDS
DEBABROTA ROY

ramprasad

ramprasad (Expert)
Follow

01 June 2015 vendor under capital gains and receiver under other sources...

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
Follow

01 June 2015 The seller will be liable to calculate his capital gains on section 50C value and purchaser will have to include Rs. 1 lakh under income from other sources.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Akshay Jain

chandradhass sathish

Gurunathan kannan

Rakesh Bansal

yadagiri

Subscribe Now

Section 56(2)(vii)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANT

GST CONSULTANCY

Accountant

Manager- Finance and Compliance

Article Assistant