Capital gains

This discussion clarifies how to calculate capital gains tax on the sale of immovable property, specifically referencing Section 50C of the Income Tax Act. It explains that the stamp duty value is considered the sale consideration under certain conditions, particularly regarding payment methods like cheques or ECS. The impact of recent amendments (from 1-4-2020) on the acceptable variance between the stamp duty value and agreement value is also highlighted, noting the shift from 5% to 10%.