Value of Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2010
My brother had purchased an under construction property for Rs. 45 lacs and 2 yrs later sold for Rs. 47 lacs value and paid the tax on Rs. 2 lacs. Can this be subsequently questioned at any stage if return filed and comes under scrutiny due to any other reason.
21 September 2010
If the case comes under scrutiny, question may arise on this issue among others. Satisfactory explanations has to be given to the Assessing officer concerned.
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