tax related to difference in circle rate and actual purchase amount

anujagarwal · #1 (**permalink**) 01-01-2014, 10:51 PM

Dear Sir,
I am buying a land and there is much difference in the circle rate and the actual value, so my question is" the difference of the value between circle rate and actual value "
1) WHETHER WE HAVE TO GIVE THE TAX ON THE DIFFERENCE AMOUNT
2) AND IF YES THEN FROM WHICH YEAR IT WAS CAME INTO FORCE.
ANUJ

Wnhough · #2 (**permalink**) 01-02-2014, 03:32 AM

Quote:

Originally Posted by anujagarwal

Dear Sir,
I am buying a land and there is much difference in the circle rate and the actual value, so my question is" the difference of the value between circle rate and actual value "
1) WHETHER WE HAVE TO GIVE THE TAX ON THE DIFFERENCE AMOUNT
2) AND IF YES THEN FROM WHICH YEAR IT WAS CAME INTO FORCE.
ANUJ

This is US tax forum; I guess you need some professional taxation help from an Indian tax practitioner