13 August 2014
if it is a part of stock in trade, cost or market value whichever is less.
if it is a part of FA, cost to acquire the land.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
14 August 2014
Sir it is a FA.
Amt paid to seller is Rs. 27 lac but the guideline value on which regs is done is around 12 lacs, then remng amt to be paid in cash henceforth whether the amt paid in cash is also to be included in cost of land.
14 August 2014
Cash paid to party is to be added as per accounting principle. But you have done regd for less amount, what is the amount shown in sale agreement.
14 August 2014
Show the regd value as cost of land as you have evaded the stamp duty by showing less amount. If you show actual amount, you will be in trouble.