Actual value of flat sale is more than stamp/registered value

Hi,

I sold my flat last year in Hyderabad, and the sale/market value of the flat was more than the stamp value. For e.g. the payment I received is 30 lacs, where the stamp value is 20lacs.
No where in sec 50c i can see this sort of a scenario, I've seen the vice versa case, but not this one.

Do we need to report whichever is higher, or is it always the stamp value, irrespective if it is more or less.

thanks
Asked 1 year ago in Capital Gains Tax from Hyderabad, Telangana
If you read sec 50c carefully it says stamp duty value or document value whichever is more. Thus in the present case u need to declare the receipt value of Rs 30 lacs as sale proceeds amount
Shyam Sunder Modani
CA, Hyderabad
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you have to offer to tax the capital gain based on higher of the two ie actual consideration or stamp duty value.
Vijay N. Kale
CA, Hyderabad
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section 50 C reads
Where consideration  for land or and building is less than stamp duty value then the stamp duty value will be considered as deeded consideration. By fiction of law stamp duty value becomes full value of consideration
Vijay N. Kale
CA, Hyderabad
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Yes you can , sir sorry for giving delayed response 
Shyam Sunder Modani
CA, Hyderabad
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It is always higher. Report 30L for gain computation.
Shashank Surana
CA, Chennai
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Ok Thanx
Shyam Sunder Modani
CA, Hyderabad
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That is fine.
Vijay N. Kale
CA, Hyderabad
248 Answers
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