Applicability of 43ca

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Prateek Tiwari (Querist)
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11 September 2014 Please help me out from this query.

If both cash & cheque payment is received by builder on or before agreement date, what will be the applicability u/s.43CA.

Can we take agreement value as sale consideration?

If yes, Do we have to mention it in Audit Report?

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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12 September 2014 According to section 43CA if part or full payment of consideration is made in other than cash on or before the date of agreement then the stamp duty value as on the date of the agreement shall be taken as the full value of sale consideration. In your case you can not take agreement value but stamp duty determined by registrar as on the date of agreement will be the full value of consideration.

Prateek Tiwari

Prateek Tiwari (Querist)
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13 September 2014 What if payment is made in both cash & cheque .

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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14 September 2014 Only a part payment in cheque will do.

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