shivam bhatia (231 Points)
28 January 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 28 January 2023
Yes, the differential amount is taxable u/s. 56(2)(x) of IT act.
CA LAVESH VASYANI
(CA IN PRACTICE)
(150 Points)
Replied 28 January 2023
Differential amount is considered as income from other sources under sec. 56(2)(x).
Tax is payable on differential amount along with interest (if applicable).
CAclubindia
