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of <h1>Income Tax Bill 2025 and Section 50C aim for fair property values, prevent tax evasion, and ensure transparency.</h1> Clause 78 of the Income Tax Bill, 2025, and Section 50C of the Income-tax Act, 1961, aim to ensure that property transaction values reflect true market values by using the stamp duty valuation as the full value of consideration when declared values are lower. Both provisions include a 110% safe harbor threshold to accommodate minor discrepancies and allow taxpayers to contest valuations through a Valuation Officer if necessary. These measures are designed to prevent tax evasion through undervaluation, thereby promoting transparent real estate transactions and ensuring fair tax assessments. Differences in procedural references exist, but the core intent remains aligned.
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