Capital gain market value /actual sale value

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akshay dalvi (Querist)
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07 December 2013 In capital gain working of sale of house property ,if i take actual sale value as a sale cosideration ( not market value ) even if M.V. is greater than actual price ,then what will be interest /and penalty ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 December 2013 Sec 50C is applicable and income tax dept shall invoke it and the full value of consideration shall be the value adopted by state stamp valuation authority for the purpose of payment of stamp duty.

akshay dalvi

akshay dalvi (Querist)
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09 December 2013 Income tax department has already issued notice to me for taking actual sale amount .Now i am ready to pay tax on differance amount(i.e.M.V and Actual amount)But should i pay tax along with 234A interest ?

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