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How can tax be calculated, if property bought at a cheap rate.
01-May-2023 (In Tax Law)
An immovable property registered by mother in the name of her son showing a small amount as sale price several years back, which may now fetch several times higher than the sale price shown, how the tax is calculated?
You would not be able to get any exemption on tax. Also the income tax returns have to be filed as per law by the son as the property is registered in his name.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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