Tax as per 56(2)(vii)

AMIT (bus) (444 Points)

13 December 2014  

Mr. A purchased land from Mr. B.

Stamp Duty Value = 13.5 lacs
Sales = 12.5 lacs

*Stamp on purchase paid by Mr. A = 95000

56 (2) (vii) = 13.5-12.5 = 1 lacs 
OR 
=13.5-12.5+95 = 5K