Sec.43ca if i t act
This query is : Resolved
23 October 2013
R/sirs,
What is effective date of Sec.43CA.
01-04-2013 or 01-04-2014 ??
My client purchase land of Rs.800000/- but stamp duty value is Rs.1000000/-.
Can Purchse tax payable on rs.200000/- in Ay 2014-15???
What is effective date of Sec.43CA.
01-04-2013 or 01-04-2014 ??
My client purchase land of Rs.800000/- but stamp duty value is Rs.1000000/-.
Can Purchse tax payable on rs.200000/- in Ay 2014-15???
23 October 2013
Section applies from 1.4.2014. Your client has to pay stamp duty for Rs. 2,00,000/- as well.
Similarly, vendor has to calculate profit on Rs. 10,00,000/- for the purpose of Income tax payment.
Similarly, vendor has to calculate profit on Rs. 10,00,000/- for the purpose of Income tax payment.
24 October 2013
Thank u sir..
Ur Sugession is absolutely right.
I think this transaction cover u/s 50C.
Thanx..
Ur Sugession is absolutely right.
I think this transaction cover u/s 50C.
Thanx..
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