Section 43ca

Was there any such clause in the agreement which provided for price escalation?

Confirm me the amount mentioned in sale deed

At booking time my agreement value was ₹3724000,only this is mentioned in the letter. Letter also stating that I hv to pay the difference Tax amt

At booking time my agreement value was ₹3724000,only this is mentioned in the letter. Letter also stating that I hv to pay the income tax on income arising out difference between the AV agreed at the time of booking n prevailing MV at the time of registration n also similar difference will be consider as income of the flat buyer a inadequate consideration paid for buyer of flat under section 56.....this was only mentioned in builder letter.....Pls mail me ur mail ID, I'll scan u the letter. Thanks

I am quoting S. 43CA and want you to tell me, whether the condition mentioned in last para is satisfied?

43CA. (1) Where the consideration received or accruing as a result of the transfer by an assessee of an asset (other than a capital asset), being land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government for the purpose of payment of stamp duty in respect of such transfer, the value so adopted or assessed or assessable shall, for the purposes of computing profits and gains from transfer of such asset, be deemed to be the full value of the consideration received or accruing as a result of such transfer.

(2) The provisions of sub-section (2) and sub-section (3) of section 50C shall, so far as may be, apply in relation to determination of the value adopted or assessed or assessable under sub-section (1).

(3) Where the date of agreement fixing the value of consideration for transfer of the asset and the date of registration of such transfer of asset are not the same, the value referred to in sub-section (1) may be taken as the value assessable by any authority of a State Government for the purpose of payment of stamp duty in respect of such transfer on the date of the agreement.

(4) The provisions of sub-section (3) shall apply only in a case where the amount of consideration or a part thereof has been received by any mode other than cash on or before the date of agreement for transfer of the asset.]

 

 

Sorry sir, I didnt understood the quote, can u pls call if possible on 9920349133

In tax matters ,written communications are much better

I'll mail you.