PROPERTY PURCHASE

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
Replies (2)
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.

Yes due to inadequate consideration , the difference between sale consideration and stamp duty value is more than 50000
DIFEERENCE KA AMOUNT INCOME FROM OTHER SOURCES ME JAYEGA SIR

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