Section 50c, Income Tax

[varun arora]

Dear Experts,

Kindly resolve my query,

I sold my house at a value lesser than a value adopted for the purpose of stamp duty and in that particular case.

Valuation for stamp duty -10,000

my transaction value(Actual sale value) - 8,000

And my assessing officer is demanding tax on differential amount i.e. 2,000 while applying section 50c

Is there any kind of remedy availabe because i sold my property actually at 8000 .

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

The demand of tax on differential amount is correct. No remedy is available.