Circle rate higher then market rate of old flat

This discussion addresses a common issue where the circle rate of an old flat is significantly higher than its market sale price. It explores how to proceed with the sale without attracting income tax scrutiny, clarifying the allowable difference between circle and sale rates (currently 10% due to Covid). The advice clarifies that the circle rate often prevails for tax calculations for both buyer and seller, and the buyer may incur additional tax on the difference between the circle rate and the actual sale price.