Special provision for full value of consideration for transfer of assets other than capital assets in certain cases.

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....ved or accruing as a result of the transfer by an assessee of an asset (other than a capital asset), being land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government for the purpose of payment of stamp duty in respect of such transfer, the value so adopted or assessed or assessable shall, for the purposes of computing profits and gains....

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....ndred and twenty per cent." had been substituted, if the following conditions are satisfied, namely:-- (i) the transfer of such residential unit takes place during the period beginning from the 12th day of November, 2020 and ending on the 30th day of June, 2021; (ii) such transfer is by way of first time allotment of the residential unit to any person; and (iii) the cons....

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....reof has been received ^3[by way of an account payee cheque or an account payee bank draft or by use of electronic clearing system through a ^4[bank account or through such other electronic mode as may be prescribed]] on or before the date of agreement for transfer of the asset.] ^7[Explanation.--For the purposes of this section, "residential unit" means an independent housing unit with separat....