Sell of flat below market value

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 November 2014 what will be the implication if a builder sell the flat below the market value of government?
is the differential amount will be treated as income in the books of partnership firm?

12 November 2014 the differential amount shall be treated as income under section 43CA. however, the addition will only be for the purpose of tax computation. the books of accounts will reflect only the actual value received.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 November 2014 which market value is to be considered as there is a 2 years period gap between booking date and agreement date>

12 November 2014 you need to look at the value on the date of agreement


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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details