Hi Plz help me with the below query
Mr.A sold his site for Rs.20 lakhs,the guideline value of the property is rs.38 lakhs.The purchaser has accounted the purchase price at Rs.20 lakhs and asessment completed u/s 143(3) accepting the purchase price at Rs.20 lakhs.Wheather A has to pay long term capital gain on sale value of Rs.20 lakhs or the guideline value of Rs.38 lakhs.
Please help me
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AGRICULTURAL LAND , STOCK IN TRADE , PERSONEL EFFECTS , NATIONAL DEFENCE GOLD BONDS , SPECIAL BEARER BONDS ON WHICH CAPITAL GAIN NOT APPLICABLE
JEWELLERY , PAINTING ECT NOT INCLUDED IN PERSONAL EFFECTS
CAclubindia
