Chirag entered into an agreement for sale of his house property located at Jaipur to Yash on 1st August, 2021 for a total sale consideration of Rs.95 lakh. Ysh paid an amount of Rs.20 lakh by account payee cheque to Chirag on 1st August,2021 and balance was agreed to be paid at the time of registration of the Conveyance Deed which could only be executed by Chirag on 1st September 2022. The Stamp Valuation Authority determined the value of the house property on the date of registration of deed at Rs.140 lakh. However, the value of the house property on the date of registration of deed at Rs.140 lakh. However, the value determined by the Stamp Valuation Authority of the house on the date of agreement (1st August 2021) aws Rs.110 lakh. The sale value for the purpose of computing the capital gain of the property in A.Y. 2023-24 to be taken by Chirag shall be:
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