56(2)(x) Immovable Property Query

Please see attached fileâ?¦ Illustration 5, treatment in the hands of the buyer, Rajesh In Sec. 56(2)(x), in case of immovable property, if date of agreement is not equal to date of registration SDV on DoA to be taken if whole/part consideration is paid on/before DoA (non-cash mode) In the said question DoR is not mentioned specifically but they have considered Date of Sale as DoR If we consider Date of Sale as DoR and as there is difference between DoA and DoR, SDV on DoA will be considered which is 140 lakhs, but they have taken 150 lakhsâ?¦ Kindly clear this sir/madamâ?¦



Deepak Gupta

Deepak Gupta

CA Inter


03-Oct-20 15:25


Answers (1)

Best Answer

The consideration is received in crossed cheque and not account payee cheque. Hence first proviso will not apply. Provided further that the provisions of the first proviso shall apply only in a case where the amount of consideration referred to therein, or a part thereof, has been paid by way of an account payee cheque or an account payee bank draft or by use of electronic clearing system through a bank account 14[or through such other electronic mode as may be prescribed], on or before the date of agreement for transfer of such immovable property:

Suraj Lakhotia

Suraj Lakhotia


03-Oct-20 16:11