Sec 43CA of income tax applicablity

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dear Sir I had applied for a site in Bangalore in the year 2006 and paid 60% amount to the builder by way of Demand Draft. There was an agreement between our Bank Employees Union who is a felicitator between the Builder and me. The builder issued me an allotment/ offer letter in tis effect The agreed rate was ₹ 560/- per sft. The builder got final permission from BMRDA on Oct 2014 a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nd send me a letter stating that the plot is ready for registration and asked me to pay the balance amount of 40%. Further the builder is demanding an extra amount of ₹ 190/- per sft stating that the Govt of Karnataka has raised the guidance value as ₹ 750/-. The builder is stating that since new provisions of Sec 43CA is applicable to him and the IT dept will calculate his inc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ome at the guidance value [ i.e stamp value for registration]. Is it correct in his demand. Whether the sec 43CA [Sub section 1,2,3,4] can give any relief for me since there was an agreement before the increase of guidance value and I paid some amount by way of Demand draft. Please guide me Regards V madhusudhan. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = The value should .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... be taken at the time of registration. The Act is irrespective of the agreement made between the parties. The property could not be registered below the guidance value. - Sec 43CA of income tax applicablity - Query Started By: - Madhusudhan Vanteddu Dated:- 1-11-2014 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Man .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... agement India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X