hi,
we hve sold(trf) a land on 30.3.2011 n since sec 50C is applicable, d stamp duty value adopted by stamp valuation authority for the purpose of payment of stamp duty for transfering the name in name of buyer, comes out to be 23,00,000.
We d seller had challenged d abov valuation n appealed to stamp valuation authority tht this val is excess of its FMV .Finally d amt was declared to be19,00,000 by stamp valuation authority.
My Querry is since as per sec 50C The value adopted by stamp valuation authorty shall be d full value of consideration (deemed FVC)
thn whthr i shld tak Rs23,00,000/-(original value) or19,00,000 (final value)as FULL VALUE OF CONSIDERATION ???? FOR CAL LTCG.
PLS REPLY !! UR VIEWS WILL BE HIGHL YAPPRECIATED THNXX IN ADVANCE.
CAclubindia
