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capital gain
if market value of property is less than circule value and difference is more than 50k..whether section is 50 C and 43CA still will apply on sale of building at market value.
Replies (2)
As per act, the sections are applicable; but sub-section/s gives option to ITO to refer the matter to their internal Valuer for valuation of the property. If the value comes out to be genuine, ITO has to accept the report.
you can file an application u/s 55A to your concerned ITO for revaluation of your property
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