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Capital gains on land sale
Dear sir, I entered into an agreement to sell land on 1.3.12 and received a token advance on the same date at a guidelines stamp value of rs 700 per sq ft. On 1.4.12 the stamp guideline value was increased to 1300 per sq ft. I will be registering the land only on 1.8.12. Is capital gains payable on 1300 or 700 ?
Replies (3)
The Stamp Duty is payable on sale of property at the time the Sale Deed is Registered and not at the time of receiving the token money
Therefore, the value as on the date of registering the sale deed would be considered, i.e. Rs. 1300 would be considered at not Rs. 700
Agree with neha
The stamp duty value on the date of registration will be considered.
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