as per section 50 C of income tax act if property is sold for rate below the circle rate then circle rate would be determined to be sale price of property by income tax authorities and capital gains tax levied accordingly to the seller
2) if you claim that fair market value is below the circle rate then in such case I0 would request valuation officer to carry valuation of property
3) the valuation determined by valuation officer would be sale price of the property if valuation determined by valuation officer is lower than circle rate
4) if valuation officer determines sale price to be higher than circle rate than circle rate would be deemed to be sale price of property
5) under section 56(2) vii) in case of buyer the difference between sale price and circle rate would be determined to be the income of purchaser and taxed under head income from other sources
6) in your case sale price is mentioned as 4,10,000 but circle rate is Rs 16,25,000
7) the difference of Rs 12,15000 would be determined to be your income and you have to pay tax accordingly
8) contact a local CA and reply to notice .