SIR MENE EK PROPERTY PURCHASE KI HAI JISKA STAMP DUTY 837000 HAI OR BO MENE 250000 ME PURCHASE KI KIYA HAI TO KYA ISME SECTION 56 (2)(10) APPLICABLE HOGA PLZ REPLY SIR
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Quick Summary
This discussion addresses a property purchase where the sale price was significantly lower than the stamp duty value. It clarifies that Section 56(2)(10) of the Income Tax Act is applicable in such cases when the difference exceeds ₹50,000. This difference is then treated as income under the 'Income from Other Sources' head.