Section 50c

[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 .

AI Summary

Tax Demand on Sale Price Difference Valid Under Section 50c of Income Tax Act; No Remedy for Seller A user inquired about the applicability of Section 50c of the Income Tax Act, as they sold their house for 8,000, which is less than the stamp duty valuation of 10,000. The assessing officer is demanding tax on the 2,000 difference. An expert responded, confirming that the tax demand on the differential amount is correct and stated that no remedy is available for this situation.