URG & Co. is engaged in construction and sale of residential apartments. It sold 4 identical apartments in December, 2022 for ₹110 lakh and the guideline value of the apartments as per stamp valuation authority was ₹
CS Executive · Tax Laws · PYQS · June 2023
URG & Co. is engaged in construction and sale of residential apartments. It sold 4 identical apartments in December, 2022 for ₹110 lakh and the guideline value of the apartments as per stamp valuation authority was ₹120 lakh. How much would be added to its income under section 43CA of the Income Tax Act, 1961?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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