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Sale value of consideration in case of immovable property

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(Querist)
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.
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Punit Gupta

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Punit Gupta (Expert)
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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