Dear All,
I eager to know the possibilities in the asked case study, please help me for the same by posting your comments
Mr. A wise to purchase a land & Building from Mr. B, and consideration as agreed upon by them is Rs. 15 Lacs.
Mr. A wants to borrow Rs. 15 Lacs to purchase the same, But the banks did not the finance the whole amount, the one Bank agreed to finance 80% of deed amount.
One of the way that I'm thinking is Mr.A & Mr.B make a deed of Rs. 18.75 Lacs (15/80*100) so that Mr.A get the finance of Rs.15 Lacs.
But due to this he will have to pay for large amount of Long Term Capital Gain.
please reply
CAclubindia
