Capital gain sec 50c

Dear this question is applicable in Real Life. Here there are general practice of Black money in transfer of properties. You have nothing to what is done by Mr. B as Mr. A has to see their own matters.

You can do the treatment in the following 2 ways:

1) Show Rs. 10 Lac as White money and receive balance Rs. 10 Lac in Black i.e. Purely Cash no banking transaction. In this way you are able to show only Rs. 10 Lac as Mr. B is also showing Rs. 10 Lac according to Stamp Value. No body will question on this. But you have to keep Rs. 10 Lac black safely. Remember don't have any banking transaction.

2) Show entire Rs. 20 Lac as white money whether received in cash or not doesn't matter and pay the tax as you have mentioned. however if the question arised on assessment that Mr. B has shown Rs. 10 Lac than it's the matter of Mr. B and the other party will be in trouble. You are free from that.