Easy Office
Easy Office

Tax on deemed income

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
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
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
25 December 2013 on purchase there is no taxable income arises.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 December 2013 no sir, the difference between govt value and purchase price, is charged as deemed income..
Upgrade to CAclubindia Pro. Subscribe Now!


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


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links