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NET SALE CONSIDERATION FOR SEC 54F

This query is : Resolved 
 

(Querist)
02 November 2008

What should be taken as the net sale consideration for ascertaining the amount of exemption?
1.The Agreed Value or
2.Amount as per Stamp Duty Valuation Officer
or
3.Higher of the two mention above
As there is nothing mentioned in Sec 50C about it?


B.Chackrapani Warrier (Expert)
02 November 2008

Highest of the above two amounts. For this purpose reference is made to sections 54F, 50C and 48 of the Incometax act,1961.



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