Sale of immovable property

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  1. pradeepgk

    pradeepgk New Member

    What happens if buyer/seller enter different agreement with different property dimensions to avoid TDS under section 194IA.
    Ex: out of 10 acre of land with purchase price of Rs 1000000 per acre, can he avoid paying TDS by entering 3 agreements with 4+4+2 acre each which is less than 50L amount each time.
    What happens if he enters 3 agreements on same date.
    What happens if he enters 3 agreements on different dates.
    Can he avoid payment of capital gain tax in any way. Please suggest
  2. Basheer khan

    Basheer khan New Member

    If u told as tax deparment may consider the u as doubt when value is low stamp duty value will be low and tax department verify u case consider land of sales rate in that area and u have to pay double tax if tax department come to know and it like cheating tax department by escaping from tax
  3. Karan Batra

    Karan Batra Well-Known Member

    If these agreements are done on the same date in between the same parties - the income tax officer would be easily able to identify this transaction and will classify this transaction as a transaction done for the purpose of tax evasion
  4. Karan Batra

    Karan Batra Well-Known Member

    He will ensure that TDS is paid in such a case and may also levy a penalty in this case
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