The property is being sold for 150lakhs whereas the valuation for stampduty is 500 lakhs. As the title of the property is in dispute, the buyer do not have any original / copies of the title deeds and not in the possession of the property, is forced to accept very low consideration. If the capital gains tax on 500 lakhs, then it amounts to 100 lakhs?. how to go about? any body can help me
gopal
You can approach the AO that stampduty value adopted is more than Fair market value. Your case will be forwarded to DVO and depending on report of DVO your value of property will be determined.
Regards
Karthik V Kulkarni
M N Rao & Associates LLP
Vijayawada
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