Tax to be paid on which value as per sec 56 2 vii b
This query is : Resolved
03 March 2015
we have ppurchased a property
stamp value is more than the document value,i.e we paid less than stamp duty value, shall we pay tax on stamp value? or document value?
stamp value is more than the document value,i.e we paid less than stamp duty value, shall we pay tax on stamp value? or document value?
04 March 2015
If consideration paid is less than the stamp value by more than Rs. 50,000/- than entire difference between stamp value and consideration actually paid will be deemed to be income of the assessee u/s 56(2)(vii.
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