Immovable property acquired less than SDV
shivam bhatia (231 Points)
28 January 2023what are the tax implications on it?
Is it taxable u/s 56(2)(x) or some other tax implications?
shivam bhatia (231 Points)
28 January 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 28 January 2023
Yes, the differential amount is taxable u/s. 56(2)(x) of IT act.
CA LAVESH VASYANI
(CA IN PRACTICE)
(148 Points)
Replied 28 January 2023
Differential amount is considered as income from other sources under sec. 56(2)(x).
Tax is payable on differential amount along with interest (if applicable).
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