Capital gain

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ajay (Querist)

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)

02 November 2015 Its 01/11/2015 as its the date of on which deed is registered

ajay

ajay (Querist)

03 November 2015 thanks but what will be the sales consideration?

ANKIT AGARWAL

ANKIT AGARWAL (Expert)

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)

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)

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

ajay

ajay (Querist)

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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