SEC 50 C FULL VALUE CONSIDERATION
This query is : Resolved
03 May 2008
I HAVE PURCAHSE A LAND OF RS.200000/- IN MAR.2006 & SOLD FOR RS 300000 ON APRIL 2008.STAMP DUTY VALUATION IS RS 360000/- LAND IS SOLD WITH IN THREE YEARS SO IT IS SHORT TERM CAPITAL GAIN
WHETHER SEC 50 C IS APPLICABLE TO SHORT TERM CAPITAL GAIN OR NOT ANY CASE LAW
WHETHER SEC 50 C IS APPLICABLE TO SHORT TERM CAPITAL GAIN OR NOT ANY CASE LAW
05 May 2008
Yes, 50C apply for STCG also. pls read the section, there is no reference of long term or short term, only consideration for capital asset (lans & building) is mentioned.
31 March 2012
Section 50C does not distinguish between LTCG or STCG.
Accordingly Section 50C is applicable in this case and the sale consideration shall be Rs. 3,60,000/-.
Accordingly Section 50C is applicable in this case and the sale consideration shall be Rs. 3,60,000/-.
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