Answers On Topic: stamp valuation
Respected team, An assessee purchased a property in 2020 for a value much below the stamp duty value of the document and the value exceeds the limit prescribed under 56(2)(xb). Department issued notice for invoking provisions of sec 56(2)(xb) of the Act, what is the recourse available to the purchaser of property.
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IS 50C applicable to sale of a flat between relatives below SDV ?
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If assessee get redeveloped flat today against his old flat and same is sold after 2 years , the cost of acquisition would be stamp duty value as on today?
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Rural agricultural land purchased as per documents at Rs. 9,00,000/- and DLC rate was 37,00,000/- (Local stamp duty rate). AO made addition of this difference u/s 56(2)(vii)(b). whether AO's action is correct when rutal agricultural agricultural land is not subject to capital gain in thehands of saller. Kindly quote case laws on the subject. Smilar situation is in the A.Y. 2015-16,2016-17 and 2017-18. Kinly guide.
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In calculation of deduction under section 54F whether actual sale consideration will be considered for net sale consideration or 50 C will you will be considered
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the assessee company had booked a flat in feb 2011 for an agreed consideration of Rs 180.00 lacs . only booking form and allotment letter was executed and a sum of Rs 25.00 lacs was paid in Feb 2011. subsequently the project went into litigation and due to development rules constraint the project was delayed and final agreement was executed in registered in sep 2017. the stamp duty valuation is Rs 250.00 lacs. The AO is seeking to tax the difference in the agreed value and the stamp duty valuation u/s 56(2)(x), though the assessee is seeking refuge in the…
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Sir, Whether AO can make addition in the case of purchaser of property of the diffrence of actual purchase as per document and DLC rate fixed by the registrar for stamp duty purpose. In my case actual purchase rate is lower to the DLC rate. whether declaration of deemed income is necessary. Presently, transactions are made below the DLC rate. Kindly clear whether DLC rate is only considered for capital gain purpose and it is not applicable to purchaser of the property.
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If a leasehold land on which building is constructed by self is sold/ transferred for a consideration, will the transaction attract sec 50C.Does the Stamp duty value applies to only freehold land or leasehold land also.
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purchase of property below SDV