Goods & Service Tax (GST) 23 September 2026
Stamp Duty vs Market Value: Tax Act 2025 Implications for Sellers
The Income Tax Act 2025 addresses situations where a seller argues that the stamp duty assessed value exceeds the property's fair market price on the transfer date. Under section 78(2), the tax authority can rely on a registered valuer's report to verify market value, potentially leading to tax adjustments, interest, or penalties if the declared value is found inflated.
Key Points
- Sellers may claim the stamp duty valuation is higher than the fair market value at transfer.
- Section 78(2) of the Income Tax Act 2025 allows the tax authority to refer to a registered valuer's report to determine the true market price.
- Discrepancies can lead to tax adjustments, interest, and possible penalties.
For full details, see the original article.
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