27 March 2010
property purchased on 26th march 2009 value Rs.7 lacs,(market value-9.56 lacs, stamp duty valuation amt to Rs.11 lacs) is the buyer going to pay tax on the differences between stamp value and actual value under the other sources? since the amendment arrived from 1st october 2009 but the property purchased on the said date.is it taxable u/s 50c
27 March 2010
The finance bill 2010 has proposed to delete the provision with respect to property purchased below market value from non relatives and this will apply w. r. e. f. 01.10.2009.
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