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Capital gain
Land was purchased on-10/2/2006 for Rs 120000, After few yrs a shed was constructed on tht land in 2010-11 for Rs 625000, on 30/6/2016 land was sold for 16 lakhs, The market value of land is 2500000.My question is what will be the sale consideration?
Replies (10)
Sale consideration is the amount for which the land was sold 16 lakhs.
Your problem is not clear. What exactly you want
My question is wch one i need to take as a sale consideration, market value or sale value!
Dear sir. You should consider your sale value only as sale consideration if it's higher than
# the stamp duty value.
in case of stamp duty value the provision of sec55 is applicable ?????
@ Honey sharma. Sir, Sec 50C is applicable for cases where the sale actual sale value is less than the value considered in stamp duty payment.
Since actual sale value is less than market value can i take whicher is higher as per sec 50C.
U have to ask the value as per stamp duty valuation u/s 50c
If stamp value is more than actual sale,stamp value will be taken
If stamp value is less,then actual sale value of 16l shall be considered
@ Sai preetam, Dear Sir, Market value nowhere comes into picture. Kindly follow the above comment of Dwaipayan paul. Compare the value mentioned for the stamp duty payment purpose and 16 lakh whichever is higher should be taken as sales consideration.
Check for stamp value by local authority in their Reckoner
Den only can determine sale value
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