As per new income tax act 2025
1) If stamp paper of value 1 lakh or 2 lakhs is purchased it will be reported in SFT...AIS
Now my qs is
1) suppose 2 or more than 2 persons are jointly purchasing same property and if value of stamp paper exceeds 2 lakhs then, how each individual transaction be reported and how agreement on different stamp paper by each partner for same property be entered??
Form 165 will report joint property transactions against all co-owners’ PANs
Even if stamp paper is split or multiple papers used, reporting is based on property registration, not stamp paper individually
Each person may see full transaction value in AIS, but tax liability remains as per ownership share only
Thanks
I just wanted to confirm that form 165 will show ALL partners name and PAN and will be reported in AIS individually even when one stamp paper is purchased ??
Will stamp paper have all partners name if only 1 stamp paper purchased??
I think u r not getting my point
Please see new rule of reporting stamp paper
I am not talking of reporting of registrar
CAclubindia
