ITR Reporting Requires Stamp Duty Value From Registered Sale

When you sell a flat, your tax return asks for its stamp duty value.

This is the value used by the government registration office to calculate stamp duty.

For a registered sale, you should use the value shown in the sale deed or registration records.

You do not need to calculate it yourself using the flat’s built-up area or its undivided land share.

The value may be based on the local circle rate.

It can also be higher than the circle rate.

If the sale price was lower than the government’s value, the higher government value should be reported.

The guidance concerns a flat sold in Chennai.