Valuation u/s 50C at Option of Assessee Either From Date of Agreement or From Date of Registration: ITAT

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valuation-under-section-50cThis is extremely good news for those whose case is in scrutiny at present and likely to suffer on account of higher stamp duty valauation under section 50C of the Income Tax Act . A sreaders may remember that Finance 2016 inserted to sub-section (1) of section 50C w.e.f. 1-4-2017 following proviso :

Provided that where the date of the agreement fixing the amount of consideration and the date of registration for the transfer of the capital asset are not the same, the value adopted or assessed or assessable by the stamp valuation authority on the date of agreement may be taken for the purposes of computing full value of consideration for such transfer:

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