Difference in "SALE AGREEMENT" and "SALE DEED" amount
This query is : Resolved
10 December 2020
Hi,
I am going to purchase a plot and then construct house using my Capital Gain Account.
The owner of the plot is asking to mention the total value in "SALE AGREEMENT" and "SALE DEED" to be different.
SALE AGREEMENT (AOS) will mention the Total Sale Value (e.g. Rs.70 lakhs)
ABSOLUTE SALE DEED (ASD) will mention the Guidance/Market Value (e.g. Rs.50 lakhs)
Is the above allowed and legal ?
Let me know by doing the above whether I can withdraw the total amount of Rs.70 lakhs and registration fee of Rs.3.25 lakhs from my CGA using FORM C & D ?
NOTE: ALL TRANSACTION THROUGH BANK ONLY (INCLUDING THE DIFFERENCE AMOUNT)
I am going to purchase a plot and then construct house using my Capital Gain Account.
The owner of the plot is asking to mention the total value in "SALE AGREEMENT" and "SALE DEED" to be different.
SALE AGREEMENT (AOS) will mention the Total Sale Value (e.g. Rs.70 lakhs)
ABSOLUTE SALE DEED (ASD) will mention the Guidance/Market Value (e.g. Rs.50 lakhs)
Is the above allowed and legal ?
Let me know by doing the above whether I can withdraw the total amount of Rs.70 lakhs and registration fee of Rs.3.25 lakhs from my CGA using FORM C & D ?
NOTE: ALL TRANSACTION THROUGH BANK ONLY (INCLUDING THE DIFFERENCE AMOUNT)
10 December 2020
By doing so you can't withdraw 70 lacs from CG account. Execute sale deed also for 70 lacs.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- Management System (IMS)
- DIN reactivation
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- GST rate and HSN code for sale of racing horses
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Eway bill generation from place other than registeted
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
