Stamp duty vs deal value: Homebuyer gets relief as ITAT Mumbai rejects addition of Rs 18 lakh income by tax dept for property valuation gap

A Mumbai homeowner has won a significant tax case. The Income Tax Appellate Tribunal ruled in his favour, deleting an Rs ...
Tax Guru

Allotment Date Governs Stamp Value Under Section 56(2)(x)

ITAT ruled that an allotment letter constitutes a valid agreement for section 56(2)(x) where consideration and binding terms are recorded. Stamp duty value on the allotment date, not the delayed ...

UP Cabinet Extends Stamp Duty Concession To Commercial, Industrial Gift Deeds

Under the provisions of the Indian Stamp Act, 1899, gift deeds in Uttar Pradesh are generally charged stamp duty based on the ...