Hello,
Help me out in following matter,
If a builder is selling flats as a stock in trade at consideration below stamp duty value, what will be the selling price of the flats for tax calculation purpose - Sale Consideration or stamp duty value ?
Menu
Taxation in case of Builder
Replies (1)
According to section 43CA, if the consideration received by an assessee on transfer of immovable property is less than the stamp duty value, then, the value so adopted or assessed or assessable shall be deemed to be the full value of consideration for the purposes of computing income under the head “Profits & Gains of Business or Profession”.
Recent Topics :
- Capital Gain on sale of Depreciated Factory Gala
- Interesting Observation from a Recent Income Tax S
- ITR 3 Utility Not Taking Marginal Relief on Net To
- MV Electrosystems IPO Allotment Date, Status Check
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
Related Topics :
CAclubindia
