it is the new rule for builders to take agreement value or market value whichever is higher for sale cinsideration but i have some doubt in it.........if the builder recd advance againts flat from buyer from 2014 at regular interval suppose monthy of rs 5 lacs for under construction project & give the allotment leter to buyer for xyz flat and decided the value of the flat as per market or stamp duty value of 2014 suppose 1 crore,but they registered the agreement in 2016 when the flat is ready for posseion or just before occupancy cerificate here the market value of flat would be higher in 2016 suppose 2 crore compared to 2014 ...1 crore...in that case what will be the sale consideration value of builder whther 1 crore or 2 crore for income tax as the allotment letter of flat as given in 2014 & even the advance was recieving as per payment schedule of 1 crore.remembering thet builder had taken market value consideration of 2014.
CAclubindia
