Rationalization of section 43CA, section 50C and section 56.

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....ationalization of section 43CA, section 50C and section 56. <br>Budget<br>Dated:- 5-2-2018<br><BR>Rationalization of section 43CA, section 50C and section 56. At present, while taxing income from cap....

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....ital gains (section 50C), business profits (section 43CA) and other sources (section 56) arising out of transactions in immovable property, the sale consideration or stamp duty value, whichever is hig....

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....her is adopted. The difference is taxed as income both in the hands of the purchaser and the seller. It has been pointed out that this variation can occur in respect of similar properties in the same....

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.... area because of a variety of factors, including shape of the plot or location. In order to minimize hardship in case of genuine transactions in the real estate sector, it is proposed to provide that ....

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....no adjustments shall be made in a case where the variation between stamp duty value and the sale consideration is not more than five percent of the sale consideration. These amendments will take effe....

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....ct from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-20 and subsequent assessment years. [Clause 14, 19 & 21]<BR> News - Press release - PIB....