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Special Provision For Full Value Of Consideration In Certain Cases - Sec. 50C

Income Tax - Capital Gains - 18 - SEC - 50C: SPECIAL PROVISION FOR FULL VALUE OF CONSIDERATION IN CERTAIN CASES Where the sales consideration received or accruing on transfer of a capital asset, being land or building or both is less than the value assessed or assessable by the stamp valuation authority for the purpose of payment of stamp duty, the value so assessed or assessable shall deemed to be sale consideration. Provided that where the date of the agreement fixing the amount of considerati .....

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nic clearing system through a bank account, on or before the date of the agreement for transfer [Inserted by FA, 2016, w.e.f. 1-4-2017] Where the assessee claims that the value so assessed or assessable exceeds the FMV of the property and the value so assessed or assessable has not been disputed in any appeal or revision before any authority/ court, the A.O may refer the valuation of the capital asset to a valuation officer. Where value ascertained by Valuation Officer: Exceeds the stamp duty va .....

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