Taxation
YAGNESH HASMUKH DAVE
(Querist) 20 June 2013
This query is : Resolved
RESIDENTIAL FLAT IS BOOKED WITH BUILDER IN MAY 2012 & FULL CONSIDERATION IS PAID EXCEPT STAMP DUTY OF REGISTRATION CHARGES FOR AGREEMENT. NOW THE AGREEMENT IS TO REGISTERED WITH REGISTRAR IN JUNE 2013 AS PER FULL CONSIDERATION PAID IN MAY 2012 BEING AGREEMENT VALUE OF FLAT WHETHER 43 C SECTION OF INCOME TAX ACT IS APPLICABLE EVEN THOUGH NO PAYMENT IS REQUIRED TO PAY TO THE BUILDER AS PER AGREEMENT VALUE EXCEPT STAMP DUTY AS PER MARKET VALUE OF THE FLAT
KUMAR JAGADEESAN
(Expert) 22 June 2013
Dear Mr.Dave
Kindly give more info. since I do not understand how section 43C of the IT Act is applicable in your case as it deals with the cost of asset in certain specific case. Are you by chance referring to TDS which is to be deducted by a purchaser of property. Pl provide details.
J.KUMAR
Advocate
Hyderabad
Raj Kumar Makkad
(Expert) 26 June 2013
The given section is not applicable in the given facts.
