Dear gurus - I purchased a flat for 20 Lakhs in 2004. But the builder had kept only 10 Lakhs in sale deed. I have all sale agreement and documents to prove I paid 20 Lakhs at that time. I now sold it for 60 Lakhs and kept entire amount in registration because I did not want anything as black money. But I am now stuck with 50 Lakhs capital gains against 40 Lakhs even though all above transactions were via cheque and legal route. Can I use sale agreement amount for LTCG calculation instead of sale deed? Any other options to ensure I suffer for the 10 Lakhs black that builder made though it was white clean cheque money for me ?
Thank you
CAclubindia
