Section 50c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2014 Plz anyone explain d concept of stamp duty value in practicle life & when valuation officer comes into in picture??

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 October 2014 its simple. Lets say you sell a property at Rs 100 whereas the value for stamp duty purposes is Rs 120. In such a case, stamp duty value shall be considered as the consideration for computation of capital gains.

However, the assessee feels that stamp duty value is more than the fair market value, he has the option to request the AO to refer the valuation to Valuation Officer.

Now in the above example, lets say you feel that fair market value is not in excess of Rs 100, so you may request to refer the valuation to a valuation officer.

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2014 Thank u sir.. Yes it's very simple..

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 October 2014 you are welcome............