sale price higher than registration price

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  1. Nitya

    Nitya New Member

    I have sold a land with a actual value of 30 lakhs , but in land registration sale value mentioned is only 10 lakhs. The land was purchased in 2004 at a value of 9lakhs but that time registration value was only 2 lakhs. My questions are
    1) Can I declare 30 lakhs as a sale price in income tax
    2) In doing so, as the registration sale value is less than the purchase values , what type of further documentation required. The purchaser is not interested to increase the registered price to avoid stamp duty.
    3) What value I should consider for capital gain calculation actual or registration value.

  2. rudrabose

    rudrabose Active Member

    If you disclose different value in the stamp paper and the income tax return, the govt will ask that why is there a difference in the amount mentioned at the time of registration of sale and the amount mentioned in the income tax return.
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