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section 50C

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Tax Implication on Sale & Purchase of Immovable Property for Seller & Buyer

Income Tax : Learn about tax implications for sellers and buyers of immovable property. Understand capital gains, stamp duty, tax withholding, ...

September 1, 2023 40218 Views 7 comments Print

Analysis of Section 50C & 43CA: Tax Implications for Immovable Property

Income Tax : Understand how Sec 50C & 43CA of Income Tax Act affect taxation of immovable property sales. Learn about capital gains, business i...

August 12, 2023 13131 Views 0 comment Print

Immovable Property Sold at less than Stamp Duty Value – Tax Impact on Seller

Income Tax : Income-Tax Implications for the Sellers, if any Immovable Property is Sold for a consideration less than Stamp Duty Value...

April 27, 2023 106680 Views 15 comments Print

Cash Transactions in Agriculture Sector- Income Tax Provisions

Income Tax : Understand the income tax provisions for cash transactions in the agriculture sector. Learn how farmers can protect their interest...

June 13, 2022 72699 Views 1 comment Print

Restrictions on Cash Transactions in Real Estate under Income Tax

Income Tax : Understanding the restrictions on cash transactions in real estate under income tax laws. Learn how these provisions aim to preven...

June 13, 2022 126216 Views 0 comment Print


Latest News


6 Suggestions for Amendments in Income Tax Act by BCAS

Income Tax : Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May...

May 28, 2019 8028 Views 2 comments Print

Section 50C: Option for adopting stamp duty value on date of agreement- ICAI Suggestion

Income Tax : In relation to computing capital gains tax liability on transfer of land or building, amendment made via the Finance Act, 2016 giv...

January 14, 2018 3573 Views 1 comment Print

Provide relief when agreement date fixing sale consideration & Registration Date not same

Income Tax : Rationalisation Of Section 50c To Provide Relief Where Sale Consideration Fixed Under Agreement To Sell- Section 50C makes a spec...

January 20, 2016 1382 Views 0 comment Print


Latest Judiciary


ITAT Upheld Addition for Failure to Prove Agriculture Income Genuinity

Income Tax : Read the detailed analysis of the ITAT Chennai order in the case of D. Ramagopal Vs ACIT, where addition was upheld due to failure...

June 7, 2024 507 Views 0 comment Print

TPO fails to Apply Industry Filter while Determining ALP of Interest: ITAT Deletes addition

Income Tax : ITAT Delhi dismisses DCIT's appeal against DLF Urban Pvt. Ltd. TPO failed to apply industry filter for ALP of interest, resulting ...

May 31, 2024 216 Views 0 comment Print

ITAT Mumbai Confirms Applicability of Section 50C for Short-Term Capital Gains on Land Transfer

Income Tax : ITAT Mumbai confirms ₹1.45 crore short-term capital gains addition under Section 50C for land transfer, rejecting the taxpayer's...

May 25, 2024 11427 Views 0 comment Print

No Section 56(2)(viib) Addition Required for Discrepancy of less than 10%

Income Tax : Discover the ITAT Delhi's ruling on Sakshi Fincap Pvt. Ltd. vs. ITO, addressing valuation discrepancies and retrospective amendmen...

May 24, 2024 669 Views 0 comment Print

Core Issues of Property Ownership, Leasehold Rights & Sale Remain Unexamined: ITAT Directs Readjudication

Income Tax : In the case of Rajni Dua Vs ACIT, ITAT Delhi orders reassessment due to discrepancies in property ownership and leasehold rights. ...

May 23, 2024 294 Views 0 comment Print


Latest Notifications


CBDT notifies more modes of e-payments; 6DD limit reduced to ₹ 10000

Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...

January 29, 2020 12756 Views 0 comment Print


Section 50C Market Value on sale deed date or stamp duty value on sale agreement date

December 23, 2016 10606 Views 2 comments Print

For determination of capital gains according to section 50C market value of property as on date of sale deed or stamp duty value as on date of agreement to sale: which has to be taken?

Provisos to S. 50C(1) inserted by FA, 2016 is retrospective & applies from 01/04/2003

September 30, 2016 18652 Views 0 comment Print

Provisos to Section 50C(1) of Income Tax Act, 1961 inserted by the Finance Act, 2016 w.e.f. 01/04/2017 are to be treated as curable in nature and would apply with retrospective effect from 01/04/2003 i.e. the date from which Section 50C was introduced.

S. 50C Difference upto 10% in Value given by Appellant & Dept Valuer-Ignore?

July 27, 2016 7063 Views 0 comment Print

Section 50C of the Income Tax act, 1961(herein referred to as the Act) has been inserted in the Act by the Finance Act, 2002, w.e.f. 1-4-2003. This section is causing hardships, in many cases, to the assessees since its inception. Many appeals are arising in respect of this section.

Transfer of leasehold rights in land won’t attract Section 50C

June 3, 2016 12265 Views 0 comment Print

The ITAT Mumbai held that the provisions of Sec 50C is applicable only to transfer of land of which the assessee is absolute and legal owner and cannot be applicable to the transfer of leasehold rights in land.Thus, the transfer value cannot be benchmarked to stamp duty value.

Sale Value U/s. 50C is to be adopted for deduction U/s. 54F

May 13, 2016 4657 Views 0 comment Print

In this case assessee sold a property at Rs.20 lakhs against circle rate of 89 lakhs and spent more than a crore in construction of new residential property, exemption u/s 54F was claimed but the AO allowed exemption only with reference to 20 lakhs and balance amount was assessed as capital gain.

S. 50C in case sale consideration fixed prior to registration date

March 3, 2016 7948 Views 0 comment Print

It is proposed to amend the provisions of section 50C so as to provide that where the date of the agreement fixing the amount of consideration for the transfer of immovable property and the date of registration are not the same, the stamp duty value on the date of the agreement may be taken for the purposes of computing the full value of consideration.

Provide relief when agreement date fixing sale consideration & Registration Date not same

January 20, 2016 1382 Views 0 comment Print

Rationalisation Of Section 50c To Provide Relief Where Sale Consideration Fixed Under Agreement To Sell- Section 50C makes a special provision for determining the full value of consideration in cases of transfer of immovable property. It provides that where the consideration declared to be received or accruing as a result of the transfer of land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government

S. 50C Bonafide transaction without alleged higher receipt not covered

November 30, 2015 2296 Views 0 comment Print

Section 50C will get attracted only when there exists difference on the sale consideration and assessed value for the purpose of stamp duty by the authority of a state government. Where there is no material evidence that the assessee had received more than the fixed component from the developer,

Value of property under deeming provision u/s 50C need to be considered as on the date of agreement of sale

November 27, 2015 2669 Views 0 comment Print

ITAT Hyderabad held In the case of Shri Mohd. Imran Baig & others vs. ITO that it is now settled in favour of the assessee by the decisions of the Hon’ble Supreme Court in the case of Sanjeev Lal and Smt. Shantilal Motilal V/s. CIT (365 ITR 389)

Valuation as per deeming provision u/s 50C not applicable on mere transfer of rights in land

October 9, 2015 2216 Views 0 comment Print

ITAT Jaipur held In the case of ITO vs. Tara Chand Jain that the right in land cannot be equated with the land or building. Therefore, it is concluded that section 50C is applicable to transfer of capital asset only in respect of land or building or both and is not applicable to right in land. In the present case

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