Theres plan to buy a resale flat from existing owner, which is costing 33.5 Lakhs, this is furnished house and has Warrobes, Kitchen Cabinet, light, Fan and Gyser etc. now can the seller give a receipt of all these materials worth Rs. 3.5Lakh and the payment to him will be done by DD, this amount will not come in Sale Deed.
Is this a fine thing to do, I am not sure if the existing owner has kept all the bills intact, in case he has not even then if he gives the receipt on a plain paper with mentioning his PAN number, will this be fine.
If the "cost of furniture" is entered in the Sale Agreement, , will the Bank approving the loan accept such agreement? Also as this transaction is done in Bangalore where 0.1% of the Stamp duty is charged on the agreement, which can be deducted later from the stamp duty of Registration of sale Deed, will this be fine with the sub-registrar office and does the "cost of furniture" can be skipped in the sale Deed?
CAclubindia
