TMI BlogSec 56 income tax actX X X X Extracts X X X X X X X X Extracts X X X X ..... Respected sir/madam I intend to purchase 1/3rd portion of a 9 cottah plot of land and building( 50 year old structure built on 2 floors and fully tenanted) in burrabazar Kolkata for a consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of RS 25 lacs.However the market value of the land building as per sub registrar for payment of stamp duty is being value at 1crore 60 lacs for 1/3rd portion.The stamp duty for registration in Kolk ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ata is about 8.5 % of market value as per sub registrar's office and it will be around 13.5 lacs.I do know when stamp value of the property fair market value we can refer to a valuation officer fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the purpose of paying income tax under sec 56 of the income tax act but my query is if the same valuation officer can be used for challenging the market value fixed by sub registrar for payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of stamp duty and registration charges.Lawyers say that valuations in sub registrar's office is done through a computerised format and market value cannot be challenged. Thanking You in Anticip ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation Saif Akhtar - Sec 56 income tax act - Query Started By: - saif Akhtar Dated:- 20-2-2019 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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