I want to purchase one flat for that for exmple I will make the agreement of Rs.10L plus I want to show Rs. 2L as amt paid to seller for repairing and renowation work before taking the possession.
My 1st Q. is that Stamp duty will levied on which amt, 10L or 12L ? AND
2nd Q. is what will be the effect after 1 or 2 year for Income tax point of view for calculation of Capital Gain, for that i can take 12L or 10L for calculaiton with market price ?
cost of acquisition would be 1) sale value shown in deed of conveyence 2) sale value adopted by the registrar for stamp duty valuation ( higher of both would be considered for incometax), and same would go for COA in capital gain .
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