property purchase lessthan fair market value

You should compare the Stamp value and Sale Consideration.

For Income Tax, Capital Gain will be Charged on Stamp Value if it is more than the sale consideration.

Originally posted by : Arvind Tiwari
	but sir, How much tax the buyer will give ?reply in tax calculation if buyer are 3 person

FMV -(minus) Actual sales consideration i,e 50-30 == 20 Lakhs will be treated as gains/income in buyers hand ... actually tax liability will depend on the ratio of contribution in  sales consideration amount paid by each person/individual ....

As per recent ammendment in Finanace bill 2018 you can get a relief of upto 5% difference if actual sale consideration paid is less then FMV/stamp value (for Income tax purpose) .... so now a property/land etc sold at 95% of FMV will not be attracting any Income tax on difference of 5% between actual sale consideration and FMV ...