Section 43CA of ITA, 1961 : Section 43Ca: Special Provision For Full Value Of Consideration For Transfer Of Assets Other Than Capital Assets In Certain Cases
ITA, 1961
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Explanation using Example
Imagine Mr. Sharma decides to sell a piece of land, which is not a capital asset for his business, to Mr. Gupta for ₹50 lakhs. The State Government's stamp duty authority, however, assesses the land's value at ₹60 lakhs for the purpose of calculating stamp duty. According to Section 43CA of the Income-tax Act, 1961, for the purpose of co...
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