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.
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