Kuldeep Singh (201 Points)
02 October 2021Plot size = 240 sq. mtr
Can i buy plot more than dlc rate. In my case, dlc rate of plot is Rs 4700 per sq. mtr and i am buying that plot from seller in Rs 8700 per sq. mtr. Everything is white not Black.
1. is there any mistake with this deal ?
2. any income tax notice from income tax department ?
Actually everyone is saying that if i buy plot too more than dlc rate then income tax department will send notice to me. they will ask where extra amount come from. please tell is it true or false ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 03 October 2021
You can by plot at more than DLC rate, without any troble from ITD.
Moreover, why you need to worry, if the payment made by banking more, with duly registered agreement.
Even if any query raised, you can reply about your source of investment.
CAclubindia
