Section 43ca applicability

yes, Mr B(builder) can take stamp duty value as on 1.7.2013-Rs. 15lacs as sale consideration for the pourpose of sec 43CA because a part of consideration has been received on or before the date of agrrement.......but pls check that such part consideration to be received by any mode other than cash(if recived in cash then the said benefit cannot be taken)

Thanx Saurabh. But I want to know the applicability of Section 43CA. Section 43CA is applicable from 1.4.2013 but the agreement in the above case was entered on 1.4.2012.

sec 43ca is applicable to all sales made after 1-4-2013, date of aggrement can be prior to that date

Agree with Saurabh & Pawan, Accorrding to Section 43CA of IT Act, where the date of an agreement fixing the value of consideration for the transfer of the asset and the date of registration of the transfer of the asset are not same, the stamp duty value may be taken as on the date of the agreement for transfer and not as on the date of registration for such transfer.

However, this exception shall apply only in those cases where amount of consideration or a part thereof for the transfer has been received by any mode other than cash on or before the date of the agreement.

Further Section 43CA is applicabe since sale deed is executed on 01-07-13 (i.e. after 01-04-13) as in case of sale of immovable property sales take place on the date of execution of sale deed not on the date of agreement to sell.

Date of Agreement is not consider to take 43 CA,only the date of agreement,

Hi All,

If Suppose Mr A sold his property on 1/1/2011, receive the amuount in cash , registry of which has been made in year 2016, as all the amount was received in cash only,

so

do this transaction will also attract sec43ca .

or not.