catchwords: Capital gains – Full value of consideration – Stamp valuation – Stamp value is more than Fair value – S. 50C(3)
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Capital gains – Full value of consideration – Stamp valuation – Stamp value is more than Fair value – S. 50C(3)
Section 50C provides that where consideration received or accruing as a result of the transfer of land or building or both, is less than the value adopted or assessed by any authority of a State Government for the purpose of stamp duty in respect of such transfer, the value so adopted or assessed shall be deemed to be the full value of the consideration, and the capital gains shall be computed accordingly under section 48 of the Act.