Payment of capital gain tax and agreement with builder

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  1. nkaguru

    nkaguru New Member

    We had a plot which my father had sold to a builder. My father (78 yrs of age) has expired recently. The builder has made 6 flats on the plot. Now, it seems my father got all the payment in cash/cheque but this is not so on paper and the plot is still in my father’s name. The agreement has not been registered. The builder, to get tax benefit/to avoid paying registration charges twice, has been selling the flats to the customer directly. While registering the Flat, he is showing that a portion of the payment is being made to my father for the undivided part of land and taking back the money in cash. Only 3 flats have been sold. There are 3 more flats yet to be sold.

    We two brothers and two sisters are the legal heirs of my father. We have lost our mother about 4 yrs ago. However, we two brothers have share in this property and not the sisters as per existing. We believe the builder that he has paid the entire amount to my father. We would like to clear all his debits before distribute the inheritance amongst the children.

    Can someone advise me how to make an agreement with the builder and so that the tax is paid right now, though the 3 flats are yet to be sold. The payment for the plot has already been paid to my father.
    Farid likes this.
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