Capital gain

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ajay (Querist)
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01 November 2015 An agreement dated 31/03/2013 was made for Rs.2400000 at stamp valuation rate , for sale of land by giving advance and final payment on clearance of a civil case on that land.

now on current date 01/11/2015 the purchaser wants to get the land registered but now as per stamp valuation property values at Rs.7000000.

what will be the date of sale of property an d what will be the sales consideration?

its urgent please

ANKIT AGARWAL

ANKIT AGARWAL (Expert)
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02 November 2015 Its 01/11/2015 as its the date of on which deed is registered

ajay

ajay (Querist)
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03 November 2015 thanks but what will be the sales consideration?

ANKIT AGARWAL

ANKIT AGARWAL (Expert)
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03 November 2015 Section 50C would be Applicable and the Full Value of Conideration would be Value adopted for Stamp duty purposes

ajay

ajay (Querist)
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03 November 2015 thanks but both values mentioned in the query are as per stamp duty valuation for the respective period.

12-13 Rs.2400000
15-16 Rs.7000000

agreement to sell was made on 12-13 for Rs.2400000 but possesion was given on 15-16

please reply

ANKIT AGARWAL

ANKIT AGARWAL (Expert)
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03 November 2015 It would be RS. 70,00,000 i.e. on the date of actual agreement

ajay

ajay (Querist)
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03 November 2015 but we received only 2400000 and this was the circle rate on the date of agreement to sell

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