Budget 2016 Amendment for Stamp duty calculation on Circle rate at the time of booking.

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  1. Anand Shankar Paul

    Anand Shankar Paul New Member

    Hi Guys,

    I need a clarification on the Stamp duty calculation on circle rate to be considered.

    Example - I had booked a flat with builder A in 2010 and I am offered possession on 2016. So which circle rate will be consider at the time of registry for stamp duty calculation. 2010 or 2016.

    Since according to information posted "http://www.charteredclub.com/tax-on-property-transaction-below-circle-rate-section-50c-sec-56/" in 2016 Budget amendment section. It points out that old circle rate will be considered.

    And if my understanding is wrong, please correct me and if right what would be hidden implication on the same e.g. Tax relief on registry amount and other charges, Tax amount to be paid etc.

    Thanks for your support.

    BR
    Anand
     
  2. Yatin Gandhi

    Yatin Gandhi Active Member

    Yes, your understanding is correct
     
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