22 January 2014
REGISTRY DATE OF PURCHASE FLAT IS : 06-10-2007 PURCHASE VALUE 20,20,000/- BUT STAMP DUTY PAID ON 30,00,000/-. THEN WHAT IS THE PURCHASE VALUE I HAVE TO TAKE FOR INCOME TAX RETURN RS. 20,20,000/- OR RS.30 LAKH ?
SECOND POINT
SALE CONSIDERATION IS 30,00,000/- BUT STAMP DUTY ON 40,00,000/- ON 20-08-2009. THEN SALE VALUE FOR INCOME TAX SHORT TERM CAPITAL GAIN IS RS. 40 LAKH ?
ASSESSEE HAS NOT FILED THE INCOME TAX RETURN IN THAT PARTICULAR YEAR(F.Y. 2009-10 A.Y. 2010-11). AND NOTICE RECEIVED FROM DEPARTMENT. NOW WHAT IS NEXT STEP ? WHAT IS THE PROCEDURE.
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