Located in South Delhi’s Rangpuri area, the homestand comprises 12 bighas of farmland and a farmhouse. The transaction is the latest in a series of large real estate deals in Delhi this year.
The Calcutta High Court recently observed that if a wife decides to sell the property standing in her name without seeking the husband’s approval, it will not amount to cruelty.
As per the provisions of Section 56 of the Income Tax Act, where the stamp duty value (SDV) exceeds the purchase consideration, the difference shall become chargeable to tax in the hands of the purchaser, if such difference exceeds higher of the following amounts: ₹50,000 and an amount equal to 10% of the purchase consideration.