Income tax

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63 Points Posted on 03 September 2020
we purchased a property in april 2019 rs 14 lacs and paid registry exp appox 120000 and stamp duty of property rs 1900000
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On 03 September 2020 at 14:51 Report
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Quick Summary
When purchasing a property, the difference between the Stamp Duty Value (SDV) and the actual purchase price can be subject to income tax under 'Income from other sources'. Additionally, expenses related to property registration, such as registry fees and stamp duty, are considered when calculating this taxable income and are added to the property's value.

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84 Points Posted on 03 September 2020
Difference between SDV and purchase price will be taxable under Income from other sources under 56(2) (x) for the purchaser.
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On 03 September 2020 at 15:21
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63 Points Posted on 03 September 2020
Expenses of registry considered for calculating income from other sources
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On 03 September 2020 at 16:23
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Studwnt
1141 Points Posted on 03 September 2020
Expenses of registration gets added to your property value.
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On 03 September 2020 at 19:40

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