S-56 (vii)

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 October 2011 s-56(vii) when it is applicable?
is this section applicable to purchaser of property?
if property purchased bet financial year 08-09,is this section applicable to buyer of property?
i want guidence.


23 October 2011 No, sec 56(2)(vii) applicable from w.e.f 1.10.2009 and applicable only gift transactions...building/property transfer without adequate considration covered by this sec. but not applicable to purchaser if purchase by considration/inadequate considration.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries