22 July 2015
dear sir property purchase with agreement date jan.2013 circle rate 215/- but registry made on july 2015 circle rate 605/- is capital gain on which party (seller or purchaser) pl,z comment
23 July 2015
SECTION 50C ATTRACTS IN CASE OF SELLER AND SECTION 56 ATTRACTS IN CASE OF PURCHASER. HOWEVER, PURCHASER CAN PROVE THAT THE MARKET VALUE ON THE DATE OF AGREEMENT WAS RS. 215 THEN HE CAN AVOID TAX PROVIDED ANY AMOUNT PAID BY CHEQUE.
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