Sale value of consideration in case of immovable property
This query is : Resolved
29 September 2020
Hi All,
If, as per the sale agreement, on sale of immovable property the sale consideration is ₹ 33 lac (including stamp duty) which is actually received in bank and in the sale deed the market value is ₹ 63 lacs what should be the full value of consideration under provisions of income tax act
Please help.
If, as per the sale agreement, on sale of immovable property the sale consideration is ₹ 33 lac (including stamp duty) which is actually received in bank and in the sale deed the market value is ₹ 63 lacs what should be the full value of consideration under provisions of income tax act
Please help.
29 September 2020
The Consideration amount has to be higher of Transaction amount or Market Value as decided by the Stamp Valuation Authority.
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