19 July 2024
My client sold his property last year for Rs.55,000,00/- but as per Municipal valuation property value was Rs.81,00,000/- more than 10% variation. Property purchased during 2005-06 for Rs.15 lakh. Is it fair to take 81 lakh as deemed consideration u/s 50C as we have sale agreement of Rs.51 lakh. Since the property is overly priced by revenue authority. which value should i consider under S/50C.
CAclubindia
