if sale consideration declared by assessee is less than the value adopted for stamp duty purpose. the assessing officer will refer the case to valuation officer ONLY IF the assessee claims that stamp duty valuation is more than FMV of asset.?is dat right?
6 Replies
CA Mohit kumar jain
(Searching Source of Money)
(149 Points)
Replied 29 April 2010
Dear osheen
here a limit of difference between assessee & officer of rs.25000 if it acrossed then revalution should take place
sudhir rawal
(B.COM/PCC/ARTICLE/'O'LEVEL)
(314 Points)
Replied 29 April 2010
yes you can make this argument or point with the assessing officer but still you need to revaluation your asset and i also agree with mohit kumar jain
because in assessing officer and stamp duty valuation are rarely vary and if vary more than 25000 then you can reval your asset but still in practical life everything is possible
and you can do this
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