Guideline value query

This query is : Resolved

Siva (Querist)
Follow

29 August 2021 I sold my land for less price due to location of the land (like passage is small) but guideline value is very high which is more than double what i sold. While selling the land they have registered with the guideline value corresponding amount stamp paper cost, mentioned the purchase price less what ever they gave but guideline value as it is. Due to this my auditor saying that i need to pay the tax for the guideline value.

But i have not received that guideline value amount instead got only less than half of the guideline value amount. How to proceed on this? Kindly help on clarifying this query.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

29 August 2021 You can also obtain the services of a registered valuer, if you feel that the valuation as per the ready reckoner is on the higher side. This may happen due to the reason that the rates declared in the stamp duty ready reckoner are uniform for the same plot of land, without there being any reference to the conditions of the property and any legal dispute around the property at that point of time. The registered valuer inspects the property and based on his inspection and other relevant considerations and circumstances, gives the valuation report stating the fair market value of the property, along with the basis for arriving at the valuation.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

velichety.l.narasimharao

Akhila Ajayan

Amit Bagla

GIRISH K SATTI

Ravi

Subscribe Now

Guideline value query

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANT

Manager- Finance and Compliance

GST CONSULTANCY

CA Final

Article Assistant