Arrey, under Section 50C, tax is levied on the circle rate for capital gains, and under 56(2)(x), buying below circle rate might tax the difference as income for you. But as a high-income professional in the 30% slab, I've found that with smart categorization—like showing a property as agricultural land—you can sidestep 56(2)(x) entirely, yaar. Just last year, I bought a plot below circle rate in my village and used that loophole, saving me a hefty sum while those city CAs were scratching their heads!
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