CA Sukanya Patankar (Senior Accounts Associate) (54 Points)
05 September 2009Value of building = Rs.100000/-
Fair M.V. as per Stamp Valuation = Rs. 200000/-
what is the sale consideration for income tax purpose u/s 50C
arpna gupta
(article)
(38 Points)
Replied 06 September 2009
for income tax purpose you have to take sale consideration as 2lakh only unless otherwise you challenge the value decided in Stamp valuation.
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 07 September 2009
Dear Sukanya,
I assue Transfer Value Rs. 100000/ and Valuation as per Stam Authority Rs. 200000/-.
In above case Full value of consideration for section 48 shall be Rs. 200k.
Thanks
Dharmesh k. Dubey
(Student)
(188 Points)
Replied 14 September 2009
HI ,
As per sec 50c the full value of comsideration cannot be less than the value determined as per stamp duty valuation , in case if it happens then the sale value for Computing CG would be that Stamp Duty Valuation .
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GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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