I have a new query i have sold a flat purchased in 1988 for rs 53 lac, but the registrar value of the flat came to 72 lac,
buyer has deducted tds on property on rs 72 lac.
How to save myself from Income tax notice as to why did i sell below market rate? (72 lac government rate but sold in 53 lac)
can i take a take a valuation report from a income tax authorised valuer showing value of the flat was around 17 lac in 2001 and taking into consideration the index value of 2022-23 as 3.3, current value is 56 lac approx?
CAclubindia
