I have purchased one barren land and same was registered in my name. Seller Wants 70% of purchase cost in Black and 30% in white on the basis of Land Registration and Jantri. I have in my hand Sale agreement for Full (100%) amount which i have already paid and same sale agreemnet which we call it as "Sata Karar" is duly notarised. Now My question is Can i show full amount in my books, i have proof of payment made to party, but registration done for 30% only. I am ready to pay stamp duty on balance 70%.
What will be consequences??
CAclubindia
