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Immoveable property
Why immoveable property purchased or aquired for inadequate consideration is not taxable which is less than the stamp duty value?
For e.g.
House property acquired for 10 lacs, and its stamp duty value is 15 lacs.
Replies (2)
Possible reason
it is taxed as capital gains in the hands of transferor taking the stamp duty value as sale consideration
So it is to avoid double taxation right?
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