Section 50 C

This query is : Resolved

VIKAS GARG (Querist)
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12 January 2011 in case of purchase of property section 50 C is applicable or not.if we are showing the cost of property on low cost what type of problem we can face et the time of assessement.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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12 January 2011 Sec 50C will not apply on Purchase, It is for computing the sale consideration where value as less than Stamp value registration.

No consequence , just you will have to pay more tax at the time of sale.

CA Ankit Gulgulia (Jain)

CA Ankit Gulgulia (Jain) (Expert)
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12 January 2011 Agreed with Experts

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Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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12 January 2011 In case of purchase of property section 50 C is NOT is applicable,

sec 50C is applicable only on transfer of immovable property where the deed is registered or not !!