tax- capital gain..

what is the cost of the asset? if sale consideration is only Rs. 750000 how can capital gains be more than that?

Sec 50C aims to trap the intentions of deliberately showing a lesser sale consideration to avoid C.G. So, according to Sec 50C, guideline valuation of Stamp Duty, Rs. 15lacs has been taken as full value of consideration. The Cost of Acquisition must have been Rs. 5 lacs. and Thus, the C.G of Rs. 10 lacs. If the Assessee thinks that the guideline valuation of Stamp duty. is much more than the FMV as on the date of sale, he may appeal to the Assessing Officer....who may in turn refer the case to the valuation officer.

I completely agree with Jeet.