Law chamber
PAVANANJAYA
20 Years Exp
Agreement of Sale with GPA & Possession (Show More)
Dakshina Kannada , Kodiyalbail
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Name : PAVANANJAYA
Law Firm Name : Law chamber
Country : India
City : Dakshina Kannada
State : KARNATAKA
Practicing Since: 2006
About Your Firm : I am practicing since 2006 as a civil Advocate in Mangalore I am handling civil Matters M.C Cases , Consumer cases Registration work Revenue work, Legal Opinion etc
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Subject : Registration of property
Question : Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you
Answer by Law chamber : Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok
Subject : Registration of property
Question : Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you
Answer by Law chamber : Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok
Subject : Registration of property
Question : Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you
Answer by Law chamber : Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok
