Real estate | income tax
Vinay (Student) (39 Points)
20 March 2016Vinay (Student) (39 Points)
20 March 2016
Max Payne
(employed)
(2569 Points)
Replied 20 March 2016
Well, since this is real estate business, it will attract section 43CA while computing PGBP. The stamp duty valuation (SDV) on the date of transfer will be full value of consideration in computing PGBP.
If any part of the consideration is received by mode other than cash - at the time of, or before entering into - an agreement to sell, you can take the SDV on the date of such agreement to sell, instead of the SDV on date of transfer.
Vinay
(Student)
(39 Points)
Replied 21 March 2016
Both the rates mentioned in my query are above SDV rate. I would like to know what will be tax implication as there is difference of Rs6000 per.
Thanks!
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