banner_ad

Difference in "SALE AGREEMENT" and "SALE DEED" amount

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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)
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
10 December 2020 By doing so you can't withdraw 70 lacs from CG account. Execute sale deed also for 70 lacs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details