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For Simplification if house purchase worth is 50lac but for the goal of valuation of stamp obligation it is actually taken by authority 65lac than in the case of gift gained these home price sixty five lac will be taken and tax is going to be charge on 65 lac worth.
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Below Stamp Duty Price indicates the worth adopted or assessed or assessable by any authority in the Central Govt or maybe a State Govt for the purpose of payment of stamp obligation in regard of the immovable home.
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If any immovable residence is been given For just a consideration , the stamp duty value of which exceeds one hundred and five per cent of the consideration as well as the difference between stamp responsibility and thing to consider exceeds Rs 50000, than the difference quantity among stamp obligation and consideration shall get more info be taxable as revenue from other resource.
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