My client is selling his house for 55 lacs. Buyer wants to show 40 lacs in sales deed and pay 15 lacs by cheque.
My query is:-
1. What will be the sale price for the purpose of capital gain calculation - 55 lacs/40 lacs
2. Does TDS provision apply on this transaction (1 % TDS u/s 194 IA) ?
Thanks
if buyer give 55 lacs agianst property , capital gain calculated on 55 lach or registry value
and buyer give 40 lach against property and 15 lac given against other, capital gain calculted on 40 lach or registry value
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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