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tax against land
If we purchased a land Rs.24,00,000/- so how much tax should be paid?
Replies (7)
No income tax....... No GST ........... only stamp duty & registration charges as per circle rate of the state...... usually 6 to 7%.......
and TDS
When there is no income tax or GST......... no question of TDS/TCS........
(N.B. all the payments should be through banking mode)
If stamp duty value is higher than deed value, difference amount is taxable as income from other source.
Tax is levied on sale of land(under Capital Gain) not on purchase....
Tax is levied on sale of land(under Capital Gain) not on purchase....
thanks Sir
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