A building was sold by Mr. X for ₹ 6,00,000 as a part of his business. The stamp duty authorities valued the building for ₹ 6,25,000. The sale consideration for the purpose of computation of business income shall be:
A. ₹ 6,00,000
B. ₹ 6,25,000
C. At the discretion of Assessing officer
D. As determined by the valuation officer.
Answer:A
A building was sold by Mr. X for ₹ 6,00,000 as a part of his business. The stamp duty authorities valued the building for ₹ 6,25,000. The sale consideration for the purpose of computation of business income shall be:
A. ₹ 6,00,000 B. ₹ 6,25,000 C. At the discretion of Assessing officer D. As determined by the valuation officer.