Residential house construction value difference amount tax applicable for it act

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Kollipara Sundaraiah (Querist)
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21 November 2024 Sir,
It assessess new residential house construction value rs:1.50 crores payments through on bank channel.if residential house construction value rs:1.70 crores certified by engineer (income tax valuer) f.y.24-25
Question:
Assessess construction house expenses difference amount tax applicable for it act f.y.24-25

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 November 2024 If the valuation was carried under direction of ITD, then ITO may demand the tax over difference, but it can be negated by filing appeal.
Otherwise no need for any declaration.