Section 50 C
This query is : Resolved
VIKAS GARG
(Querist)
12 January 2011
in case of purchase of property section 50 C is applicable or not.if we are showing the cost of property on low cost what type of problem we can face et the time of assessement.
12 January 2011
Sec 50C will not apply on Purchase, It is for computing the sale consideration where value as less than Stamp value registration.
No consequence , just you will have to pay more tax at the time of sale.
No consequence , just you will have to pay more tax at the time of sale.
12 January 2011
Agreed with Experts
Manmohan ACA, CS
(Expert)
12 January 2011
In case of purchase of property section 50 C is NOT is applicable,
sec 50C is applicable only on transfer of immovable property where the deed is registered or not !!
sec 50C is applicable only on transfer of immovable property where the deed is registered or not !!
Dhirajlal Rambhia
(Expert)
08 October 2021
In your case sec. 56(2) will be applicable, for acquiring a property below circle rate.
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