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IT notice for high value transaction
In Tax Law
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Registering by guide line value is correct, it will not tested as fraudulent transaction. Balance amount excess received you can treat as development purposes. Any how you have to pay capital gain as per value. You have to give explanation to tax authority accordingly. Before submitting any reply first calculate capital gain is applicable for this transaction or not then you proceed
Advocate Sundaravadivelu
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Nurkundram,
Chennai
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