Sec.43ca if i t act

This query is : Resolved

Adv.kaidjohar (Querist)
Follow

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???

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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.

Adv.kaidjohar

Adv.kaidjohar (Querist)
Follow

24 October 2013 Thank u sir..
Ur Sugession is absolutely right.
I think this transaction cover u/s 50C.
Thanx..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok