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Tax audit(Audit)
difference between clause 17 and clause 29(b) of form 3CD both are saying about transfer of Immovable property
Replies (1)
Clause 17: seller point of view
We should report the deatails when sale value is less than stampduty value when the immovable property sold by a person contain immovable property as stock in trade(sec43ca)(stamp duty value consider as full value consideration)
sec50c: when immovable property sold as a capital asset less than stamp duty value(stampduty value consider as full value of the construction)
cluse29(b)
section 56(2)(x) covered recipient's point of view.
We should report the deatails when sale value is less than stampduty value when the immovable property sold by a person contain immovable property as stock in trade(sec43ca)(stamp duty value consider as full value consideration)
sec50c: when immovable property sold as a capital asset less than stamp duty value(stampduty value consider as full value of the construction)
cluse29(b)
section 56(2)(x) covered recipient's point of view.
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