Sec.43ac of it act..
kaidjohar
(Querist) 18 October 2013
This query is : Resolved
R/sirs,
What is effective date of Sec.43ca.
01-04-2013 or 01-04-2014 ??
My client purchase land of Rs.800000/- but stamp duty value is Rs.1000000/-.
Can Purchse tax payable on rs.200000/- in Ay 2014-15???
R.K Nanda
(Expert) 18 October 2013
consult tax lawyer.
kaidjohar
(Querist) 18 October 2013
I m tax advocate but confuse..
kaidjohar
(Querist) 19 October 2013
I think u all r my senior that`a why i raise this question ???
C. P. CHUGH
(Expert) 22 October 2013
Dear Mr Johar,
Let me first correct you. Probably you are confused about section 43CA and not section 43ac. Newly inserted section 43CA by finance Act 2013 is effective from 01-04-2014 and is applicable for AY 2014-15 and onward.
2. No obligation to pay tax on the buyer of property for a consideration which is less than the stamp duty value has been cast upon such buyer under this section.
kaidjohar
(Querist) 23 October 2013
Thank u vry vry much for clear my dought n also thanx for correct me..
Thank you,
