Dear sir,
I propose to sell my residential house in April,Ist week of 2014. A buyer for this is already identified.Amount of sale consideration fixed at Rs 1,40,00,000.00
(Rupees one crore and forty lakhs only).Now the buyer requested to break up the sale consideration into two parts,viz...Rs 1,25,00,000.00 (One Crore twenty five lakhs) to registration and balance 15,00,000.00(Fifteen Lakhs) towards Interior woodworks and modular Kitchen Etc,so that he can save some money outgo to Registration Dept. All payments are proposed to be paid by A/c Payee Checks only.
we have paid to the builder by a/c checks only towards acquisition of the said property,4 years back.That time onwards,we spent about 15,00,000.00(Fifteen Lakhs) for Woodworks,False ceiling and Modular Kitchen and Furniture etc periodically and we do not have all the receipts of that expenditure on our files.
In the above circumstances,please clarify,if we can allow the currant buyer of our property to show the break up of sale consideration,as stated in para 1 above.An early reply from you will help us to go ahead and enter into an agreement for Sale accordingly. Awaiting your reply,
Thanking you,
Sincerely,
S.R.Reddy.
CAclubindia
