Sir i bought a piece of plot for 722300 eight years back and spent about 700000 for the building which is under constructed due to promoter problem.i recently sold the plot along with under constructed building for total sale consideration of 2800000.But the buyer registered it only as a plot by paying 1400000 as stamp duty.Balance 1400000 he gave it to me as cheque but not mentioned in registration.I used the entire proceeds to buy a new property.My problem is while filing it in ITR FORM2 under long term gains can i mention full sale proceeds as 2800000 which is more than registered value of 1400000 or i can only claim 1400000 as sale proceeds which is mentioned in document and balance as income from other sources and pay 30 percent tax on it.Unfortunately i do not have written agreement with the buyer nor the buyer is forthcoming to make a agreement that balance amount is also a part of sale deed.The only proof is three cheques he gave for 1400000 which i en cashed IN MY BANK one week before registration.Kindly guide how to proceed with filing??
CAclubindia
