banner_ad

Tax Implications: Property Sale value higher than Guidance value

Tax queries 980 views 2 replies

Hello Team.

Please help clarify on the below scenario from tax implication perspective.

I intend to sell my independent house for X amount. There is a guidance value / circle value prescribed by the government for every area. The agreed sale amount is more than the govt prescribed guidance value, but the buyer is willing to specify only the guidance value amount in the sale deed and rest he would still pay by cheque.

I want it to be clean from tax perspective, in that case can i show the difference amount Agreed Sale amount - Guidance value amount as income from other source while filing my tax returns? In that case it will be taxed as per my tax slab is it?

If i can't show it as income from other source , is there any other option available?

Thanks

Shashi

Replies (2)
Pls post actual values

Government Guidance value: 6000 / Sq Ft

Market Value : 12000 / Sq Ft

Value in sale Deed: 72 L

Value as per agreement: 1.44 Cr

Can 72L be shown as Income from other sources? If yes, then it will be taxed at my current slab rate?

Is there any other option?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details