urgent
This query is : Resolved
15 December 2009
if the registered valuer values the asset as Rs.30 lacs and the value of the asset is Rs. 20 lacs. which value shall be adopted? what will be the treatment of the difference of rs. 10 lacs? and in whose hand will it be taxable? pls qoute the section relating to the same? this query is related to capital gain
25 December 2009
YOU ARE ASKING FOR WEALTH TAX ACT OR FOR CAPITAL GAIN UNDER INCOME TAX ACT.
03 January 2010
SECTION 50C
For seller :
In computation of Capital Gains , Sales Consideration would be taken as Rs 30.00lac.
In books actual receipt would be entered.
For Buyer:
Asset A/c will be debited by -
value of asset i.e. 20.00 lac
also add stamp duty+additional stamp duty+
other incidental charges like registration fee advocate fee etc.
For seller :
In computation of Capital Gains , Sales Consideration would be taken as Rs 30.00lac.
In books actual receipt would be entered.
For Buyer:
Asset A/c will be debited by -
value of asset i.e. 20.00 lac
also add stamp duty+additional stamp duty+
other incidental charges like registration fee advocate fee etc.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
