Capital gain on NRI with less than circle rate purchase

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AMANDEEP (Querist)
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01 March 2023 The assessed purchased a property for RS 7700000 in FY 22-23 at time and agreement was executed while circle rate was 8200000. Before the registry date circle rate was increased by govt to 9600000 The registry is still executed at 7700000 am FTDS deducted at 9600000 as circle rate was higher The assesses is in merchant navy Will the old agreement hold any value while assessing tax Or the difference be added to his incone also will his NRI status be in question as his incone in India will exceed 1500000 if difference is added to his incone

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 March 2023 If any payment was made at the time of execution of agreement (earlier date), in that case the circle value of that date can be considered as purchase value.