„A contract for the sale of real estate is a contract to sell the property under the terms set by the parties,” Section 54. Section 54 adds: „It does not in itself create interest or royalty for such a property.” There are a lot of situations like this, but you must understand that you do not have a problem if you show this amount as a consideration of sale, but your buyer will have problems because he may receive a notice u/s 69B for an undisclosed investment and second, if he sells this property in the future, he will be able to claim the deduction of 52 Lakh, that is, the amount mentioned in the deed for sale. If you say that 42 lakh is a circular rate/tax value on the stamp, then you must display the difference as your income u/s 56, otherwise you will face a review in the future. (i) that the date of the agreement setting the amount of the royalty and the registration date for the transfer of the property are not identical; and the next consideration is the cost of acquisition if you sell the property. They are only allowed to claim the fees mentioned in the sales settlement. As a result, capital gains would be greater and more tax would be payable. The Supreme Court of India in 2012, in the case of Suraj Lamp – Industries (P) Ltd (2) v. State of Haryana, while managing sales of real estate by proxy, did as well: When filing the income tax return, there are two returns under the Gai Head Capital, 1. The sale price and value of the property according to the Stamp Valuation Authority. As you would declare the actual sale price Rs. 80 Lakhs on your income tax return and pay taxes accordingly, there will be no problem for you from the department. Receiving the offer of 80 Lakhs in a bank account would be sufficient proof.

In the „Other Sources” head of tax, the difference is not collected in addition, because you would pay the tax due on the income of the capital. If Rs. 42 Lakhs is the value of stamp duty and you have paid the consideration of Rs. 37 Lakhs, then the difference is necessary to add your income as income from other sources. Yes, the value of the stamp tax is a minimum reference or a circular rate below which registration cannot be made. Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees.