capital gains of Income tax
we are selling a joint property land (litigated property) its stamp duty value is 90 lakh and we are selling it at 32 lakhs bcoz of lot of litigations and no proper title,
so does it attracts 50C ?
what if the buyer is a Real estate partnership firm. Do they attract
56 (2)(x) for the difference amount (90L-32L)
Please clarify.
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50C and 56(2)(x)
Replies (2)
Definitely section 50C and section 56(2)(x) will be applicable to seller and purchaser respectively
Yes, both section applicable to both person
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