tax implication on proprty t/f after 01/10/2009
This query is : Resolved
24 November 2009
Dear all
Kindly study the case and advise and register
1) I have booked a flat of 2000/- St. feet 2 year back at Rs 1500/- per St. Feet and got Registered at the government rate of Rs1800/- per St. Feet in the month of October 2009. Whether the difference of Rs 300/- per St. Feet (i.e. 1800-1500) would be chargeable under section 56(2(VII)).
2) In the above case, what if, I have taken possession in the month of August 2009 and getting the registration in the month of November 2009.
Thanx
anil jain
Kindly study the case and advise and register
1) I have booked a flat of 2000/- St. feet 2 year back at Rs 1500/- per St. Feet and got Registered at the government rate of Rs1800/- per St. Feet in the month of October 2009. Whether the difference of Rs 300/- per St. Feet (i.e. 1800-1500) would be chargeable under section 56(2(VII)).
2) In the above case, what if, I have taken possession in the month of August 2009 and getting the registration in the month of November 2009.
Thanx
anil jain
Aditya Maheshwari
(Expert)
24 November 2009
Date of registration should be imp in this case i guess and hence 56(2)(vii) will be applicable in this case.
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