Planning to Buy a Property? Know Why You May Get an Income Tax Notice and How to Deal with It

Planning to Buy a Property? Know Why You May Get an Income Tax Notice and How to Deal with It

Planning to purchase a property or land is a major financial decision to make. However, this decision sometimes attracts unexpected attention from the Income Tax Department. But it is not a thing to be worried about, as receiving a notice does not always mean you have always done something.

Individuals are not required to pay any direct tax while purchasing any land, but money used to purchase it must be earned legally and be taxed as income.