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No consideration no capital gain

16 January 2017

Assesse not received consideration sale of land , even property transfered by proper registered sale deed. consideration not received due bounce of check, no tax liabilty arise, i required proper reference for the same

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CA Aditya Lahoti (Chartered Accountant) (380 Points)
Replied 17 January 2017

Dear Gaurv,

You cannot say in the case of sale of land that, you have not received consideration so there will be no CG, because you will have to take deemed sale consideration as COA (Cost of Acquisation) or Stamp Duty Value whichever is higher.

In your case if you have not received any consideration and the land is transfered, Stamp Duty Value of land will be the deemed consideration and you will have to consider SDV as COA and compute CG.

Hope Your Query is Sloved :)