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Question ID : 40901

INCOME U/S 56(2)

A BUYER OF FLAT IS CHARGED FOR DIFF IN VALUE OF ACTUAL TRANSACTION PRICE OF BUILDING AND +/- 10% OF STAMP DUTY VALUE. MY QUERY IS IF THERE IS ANY WAY TO LOWER THE TAX BURDEN BY INVESTING IN ANY SCHEME, SO THAT WILL BE HELP FUL TO THE BUYER. BECAUSE THE SELLER IS COMPENSATED BY INVESTING THE DIFFERNETIAL AMOUNT IN 54EC, OR 54 . BUT CAN THE BUYER OF THE BUILDING IS ALSO ELGIBLE TO SAVE THE TAX BY INVESTING IN ANY BOND OR SCHEME

Posted by pradeep kumar agrawal on Nov 27, 2020

Filed Under DIRECT TAXES

Answer ID : 81270

Buyer if he is not claiming deduction under section 80 c he can save by investing in Public Provident Fund, investment is exempt and interest earned is also exempt from income tax

Posted by Hari Beldona on Aug 29, 2021