Land and building transfers: stamp duty value deemed as sale consideration when declared consideration is lower. If consideration for transfer of land or building (non-capital asset) is lower than the stamp duty value adopted by a State authority, that stamp duty value is deemed to be the full value of consideration for computing transfer profits. The provision applies existing valuation adjustment procedures. If agreement and registration dates differ, the stamp duty value on the agreement date may be used where consideration or part of it was received by non-cash means on or before the agreement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Land and building transfers: stamp duty value deemed as sale consideration when declared consideration is lower.
If consideration for transfer of land or building (non-capital asset) is lower than the stamp duty value adopted by a State authority, that stamp duty value is deemed to be the full value of consideration for computing transfer profits. The provision applies existing valuation adjustment procedures. If agreement and registration dates differ, the stamp duty value on the agreement date may be used where consideration or part of it was received by non-cash means on or before the agreement date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
