Capital gain on deemed income

HI DEAR,

U R NOT LIABLE TO PAY ANY TAX ON THE DIFFERENCE BETWEEN ACTUAL COST AND STAMP DUTY VALUATION. THERE IS NO CONCEPT UNDER THE INCOME TAX ACT PROVIDING FOR TAXATION OF SUCH SUM.

THIS IS MY PERSONAL VIEW AND MAY BE WRONG. JUST WAIT FOR FEW MORE EXPERTS REPLY.

REGARDS,

MANOJ

SIR

THE CAPITAL GAIN ARISES AT THE TIME OF SALE OF PROPERTY

NOT AT THE PURCHASE OF PROPERTY 

SO, IN ABOVE CASE, U HAD ONLY PURCHASED THE PROPERTY WHICH DOESNOT ATTRACT CAPITAL GAIN