Section 50c

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This query is : Resolved

salman shamsi (Querist)

03 December 2012 SALES CONSIDERATION(ACTUAL) 3200000
CIRCLE RATE FOR STAMP DUTY(STAMP VALUE) 20000000.

SALES AS PER 50C 20000000

Q IS THERE ANY WAY(ANY CASELAW,etc) TO CALCULATE CAPITAL GAIN ON ACTUAL SALE VALUE RATHER THAN 50C VALUE .

NOTE:Its a fact that due to location of the plot its market value has dropped considerably i.e. why seller is selling at too low rate.
is there any way e.g. whether we could get the valuation done by pvt valuer or request AO to refer the valuation case to valuation officer of department, or is there any other way out.

Q IS THERE ANY PROVISION IN STAMP DUTY ACT OF UP TO COLLECT STAMP DUTY ON MARKET VALUE RATHER THAN CIRCLE RATE AS DETERMINED FOR PAYMENT OF STAMP DUTY.IS THERE ANY VALUATION CONCEPT IN STAMP DUTY ACT .

PLEASE LET ME KHOW IF THERE IS ANY RELATED CASELAW.

Amol S Joglekar

Amol S Joglekar (Expert)

03 December 2012 No case law as such. There is ADJUDICATION procedure under Indian Stamp Act, where by one gets the chance of INDIRECT valuation of that property. Send the stamped document for adjudication. This can prove to be a good case to fight out against 50C

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