undervalue property

Rajat Singhal (95 Points)

20 January 2019  
What is the tax implication on purchaser in case of undervalue purchase of immovable property ?
and How i will show it in our books of account ? and If any risk, please convey all information regarding that ?

E.g. "A property circle value Rs.1.5 crores but seller sell that property undervalue in Rs.1 crore and purchaser also purchase it."