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sec 56
purchasing an immovable property, the date of agreement and registration are not same. there was cash payment on or before the date of agreement. on the date of registration stamp duty value was more than purchase value. let me know effect u/s 56.
Replies (4)
The stamp duty value at the date of the agreement will be taken into consideration. Provided the amount given as a advance payment should be through an account payee cheque.
The stamp duty value at the date of the agreement will be taken into consideration. Provided the amount given as a advance payment should be through an account payee cheque.
taxable as gift as per section 56(2)(X)
the difference between stamp duty value and purchase value will be deemed as your income under section 56(2)(x)
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