Tax on deemed income
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 December 2013
i have purchased land, which is having government value more than the actual market value of that land.
so, is in this case the difference would be charged as deemed income or else ?
and, what are the remedies available for reducing tax liability ?
please reply
thank you
so, is in this case the difference would be charged as deemed income or else ?
and, what are the remedies available for reducing tax liability ?
please reply
thank you
25 December 2013
on purchase there is no taxable income arises.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 December 2013
no sir, the difference between govt value and purchase price, is charged as deemed income..
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