Ammendment in sec 56 2 vii
This query is : Resolved
15 October 2011
dost se RS 35000 me house prop. purchase kiya hai jiska Market value hai RS 600000 to IOS me kitna taxable hoga? If not in IOS than under which head & how much under hand transferor & transferee
15 October 2011
Taxable in the hands of the transferee under the head " income from other sources" to the extent the transferee is benefitted from transaction i.e. Rs 565000 (Rs6 lac - 35K), as the amount of benefit exceeds Rs 50,000 in that year.
15 October 2011
sir my Q. for A\y 2011-12 ,in highlights of amendments by finance act 2010 of grish ahuja sir para 25 it is given that taxable u\h cap gain. & in the hand of transferor on the basis deemed consideration sec 50 c
15 October 2011
I dont think the same income can be taxed twice.
Either the transferee will be taxed by the Assessing authorities u/s 56(2)(vii).
Or, The transferor will be taxed u/s 50C.
Either the transferee will be taxed by the Assessing authorities u/s 56(2)(vii).
Or, The transferor will be taxed u/s 50C.
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