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of <h1>Income Tax Rule 48K: Property Valuation Criteria Vary by Location Under Section 269UC</h1> Rule 48K of the Income Tax Rules, 1962, specifies the valuation criteria for immovable properties under section 269UC. For agreements made on or before July 31, 1995, the property value must exceed 10 lakh rupees. For agreements after this date, the value thresholds vary by location: Greater Bombay exceeds 75 lakhs, Delhi exceeds 50 lakhs, and areas like Calcutta, Madras, Bangalore, Ahmedabad, and Pune exceed 25 lakhs. Other areas require the property value to exceed 20 lakhs. These thresholds determine the applicability of specific tax provisions related to property transactions.
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