It is understood that when any immovable property is sold at less than fair market value, the difference betwen fair market value and transaction value is charged to tax both in the hands of seller and recipient.
How is the Fair market value to be arived at in case of immovable property?
can the relevant provision be also cited?
thanks
| Originally posted by : v.raj | ||
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It is understood that when any immovable property is sold at less than fair market value, the difference betwen fair market value and transaction value is charged to tax both in the hands of seller and recipient. How is the Fair market value to be arived at in case of immovable property? can the relevant provision be also cited? thanks |
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As per Circular Rate of Tehsil
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