Capital gain

Hello Suksham,

Section 50C states that when a capital asset, being immovable property, is transferred for a consideration which is less than the stamp duty value adopted, assessed or assessable for the purpose of payment of stamp duty in respect of such transfer, then the stamp duty value is taken as full value of consideration under section 50C of the Income-tax Act.

Under your case,

Stamp value         = 57,00,000

(-) Indexed value = 10,00,000

LTCG/STCG              47,00,000

So you will be taxed on Rs. 47,00,000.

Thank you