WebNotification of Circle rates till 30.06.2024: Regarding Management Development Programme on Finance for Non-Finance Executives: Notification of Circle rates in Hindi till 31.12.2024: Notification of Circle rates in English till … WebIf a buyer purchases a property for a price below the Circle Rate and the difference in the “Price at which the property has been purchased” and the “Circle Rate” is more than Rs. 50,000, such difference would be assumed to be the income of the purchaser and would be chargeable to tax under head Income from Other Sources under Section ...
Tax on Property Transaction below Circle Rate: Sec 50C, Sec 56
WebCircle rate is guideline value of land / property based on the State government slab. Circle rate may vary based on the locality / property type, etc. Please note that, we must … WebNov 16, 2024 · However, if the actual cost of the property is higher than the circle rate, the stamp duty and registration fee is charged on the actual price of the asset. Example- Assuming a property in a specific locality has a RRR of Rs 5,000 per sq ft. However, if the market price of the property is Rs 6,000 per sq ft, the buyer has to ideally pay stamp ... suzuki garage romford
Gurugram Property To Get Costlier As Circle Rates Hiked
WebApr 7, 2024 · The district administration has increased the circle rates by 30% throughout the district, causing property rates in Gurgaon to surge. According to the district collector's order, rates for agricultural, residential, and commercial properties in Gurgaon tehsil have increased by 20%. In the Badshahpur tehsil, rates have been raised by 15-20%. WebWith the collector rates revised, now if a male owner wants to get a 500 square yards plot registered, he will have to shell out a minimum ₹ 12 lakh as stamp duty instead of the earlier ₹ 8.80... WebSep 1, 2024 · Suppose, the circle rate in the area, where you are buying a 1,500-sq ft plot is Rs 1,000 per sq ft. In this case, you cannot register the property for less than Rs 15 lakhs (1,500 x 1,000). Even if the seller is … suzuki garage stockport