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Sale value of consideration in case of immovable property

This query is : Resolved 

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.


The Consideration amount has to be higher of Transaction amount or Market Value as decided by the Stamp Valuation Authority.


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