section 50C
This query is : Resolved
CA Vaibhav Jain
(Querist)
15 January 2009
Membership of a co-operative society was transferred(in form of shares) which in effect lead to the transfer of immovable property.No registration of transfer of immovable property was made and hence no stamp duty was paid.
Does this transaction attract section 50C ?
Does this transaction attract section 50C ?
CA.ViVeK M ACA
(Expert)
15 January 2009
Sec 50 C would be applicable for the transfer of land or building or both...thus the membership right of co-operative society doenot form part of 50 C
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