Section 53 — Full value of consideration for transfer of assets other than capital assets in certain cases

(1) In case of transfer of an asset (other than a capital asset), being land or
building or both, if the consideration received or accrued from such transfer is
less than the stamp duty value, then such stamp duty value for computing profits
and gains from transfer of such asset shall be deemed to be the full value of con -
sideration.
(2) The provisions of sub-section (1) shall not apply if the stamp duty value does not
exceed 110% of the consideration received or accrued and in such a case, the con-
sideration received or accrued shall be deemed to be the full value of consideration.
(3) If the date of agreement fixing the value of consideration for transfer of asset
and date of registration for transfer of such asset are different, then the stamp duty
value as on date of agreement may be taken to be the full value of consideration
under sub-section (1).
(4) The provisions of sub-section (3) shall apply only in a case where the amount
of consideration or a part thereof has been received by specified banking or online
mode on or before the date of agreement for transfer of such asset.
(5) For the determination of the stamp duty value under sub-section (1), the provi-
sions of section 78(2) and (3)shall apply.