Taxable value in case of sale of house
This query is : Resolved
10 May 2016
Mr A sold Flat to Mr B for 80 lacsDastaveg done for 28 lacs Assessee receive 28 lacs in white Which amount to be consider for taxable value under capital gain?In which amount tds be deducted 80 lacs or 28lacs?
CA VISHNU GAVKARE
(Expert)
11 May 2016
Officially on 28 lac. as per provisions Stamp duty value or actual consideration whichever is higher shall be taken as sale consideration. In your case assuming stamp duty value is also 80 lac it will be 80 lac & not 28 lac. For tds purpose actual consideration i.e. 28 lac will be considered.
Rupesh Jain
(Expert)
13 May 2016
its taken as Rs. 28 lacs. and but AO take as area circle rate for capital gain calculation.
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