10 June 2016
hi experts I want to purchase an immovable property. when i approached a seller and agreed the same to purchase for 52lacs. and i approached the registrar for knowing the market value of the land. he said it was around 76lacs. since i dont want to pay the tax on difference amount i am planning to start one firm with an objective clause of selling and purchasing the immovable properties. and purchase the land and register the same on the name of the firm.... is it advisable...are there any other sections hits this transaction and which leads to tax payable by me........
CAclubindia
