Income tax
This query is : Resolved
03 February 2015
Dear Prajakta,
Section 43CA is just like Section 50C i.e Full Value Consideration.
In Sec. 50C Land or Building or both Should be Capital Assets. Whereas Sec. 43CA applies where Land or building or both transfer as a result of General Business Activity. If you Sell L & B less than Stamp Duty Value then your Business Income shall be computed by taking Stamp Duty Value as Sale Consideration.
Section 43CA is just like Section 50C i.e Full Value Consideration.
In Sec. 50C Land or Building or both Should be Capital Assets. Whereas Sec. 43CA applies where Land or building or both transfer as a result of General Business Activity. If you Sell L & B less than Stamp Duty Value then your Business Income shall be computed by taking Stamp Duty Value as Sale Consideration.
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