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(Querist)
11 March 2010 Property A is commercial property and has 10 shops. 5 on first floor and 5 on ground floor.

If the seller sell one shop at circle rate cost of shop (A) plus the construction expense y i.e. a+y , can he sell the next property for the amount less than the circle rate ?

By this he is saving the amount in stamp papers. And is there any law that says that other person can buy the same piece for 25% extra amount or so ?

please reply on singhalsolutions@gmail.com
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
12 March 2010 Circle Rates are meant for Stamp Duty purposes. As such, stamp duty is to be paid on the value worked out on the basis of circle rates. In any case there are least chances of any saving in stamp duty. However, for any reasons the sale consideration may vary from deal to deal.
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CA Sanjeev Kr Jain

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CA Sanjeev Kr Jain (Expert)
15 March 2010 you may sell your property at any rate however to calculate tax on profit the sales consideration will be higher of circle rate & actual sale price
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
06 November 2021 ITD may suspect the issue and may add gain based on the latest deal in the period.
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