SEC 50 C FULL VALUE CONSIDERATION

This query is : Resolved

CA Hemant T Dewani (Querist)
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03 May 2008 I HAVE PURCAHSE A LAND OF RS.200000/- IN MAR.2006 & SOLD FOR RS 300000 ON APRIL 2008.STAMP DUTY VALUATION IS RS 360000/- LAND IS SOLD WITH IN THREE YEARS SO IT IS SHORT TERM CAPITAL GAIN
WHETHER SEC 50 C IS APPLICABLE TO SHORT TERM CAPITAL GAIN OR NOT ANY CASE LAW

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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05 May 2008 Yes, 50C apply for STCG also. pls read the section, there is no reference of long term or short term, only consideration for capital asset (lans & building) is mentioned.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 March 2012 Section 50C does not distinguish between LTCG or STCG.

Accordingly Section 50C is applicable in this case and the sale consideration shall be Rs. 3,60,000/-.

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