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Purchase of land

Others 729 views 4 replies

jnj fincon

Prop

88 Points Joined July 2010

I have purchased one barren land and same was registered in my name. Seller Wants 70% of purchase cost in Black and 30% in white on the basis of Land Registration and Jantri. I have in my hand Sale agreement for Full (100%) amount which i have already paid and same sale agreemnet which we call it as "Sata Karar" is duly notarised. Now My question is Can i show full amount in my books, i have proof of payment made to party, but registration done for 30% only. I am ready to pay stamp duty on balance 70%.

What will be consequences??

Replies (4)

ARUN KUMAR

Financial Consultant

992 Points Joined August 2011

Simply If you Follow Seller than no advantage recd.,But Afterwards You Can Suit By Authorities.Than True Disclosure Done

jnj fincon

Prop

88 Points Joined July 2010

My Question is whether i can claim full amount in purchase value or i must resist with Regirtry amount..?

U S Sharma

glidor@gmail.com

21068 Points Joined January 2010

registration amount only would be your white investment, and lateron you will face music of evasion of stamp duty

jnj fincon

Prop

88 Points Joined July 2010

Thanks for your suggestions. As U S Sharmaji said that we have to pay stamp duty on black portion. If I pay all stamp duty at the time of registration on White and Black portion. Than can i claim full amount as purchase value in my books.What are the consequences for seller ( Agriculturist in Rural area)