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Long term capital gain
I am planning to sell a property where market value is 10 times the govt value for registration.
Nobody is coming forward to buy if I am insisting on getting complete amount through check. I am ready to pay 20% tax.
Buyers are reluctant as either they don't want to pay 7% stamp duty or have inability to pay by check or both.
Is there a way I can still disclose the income and honestly pay 20% tax and be clean from my side?
I don't want to be harassed by AO treating it as income from other source and taxing at 30% or add penalities with some weird acts.
Replies (1)
That's really weird. People who are otherwise against black transaction, in your case not ready for 100% white transaction. Be patient, you will definitely find somebody who is ready to pay 100% by cheque.
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