Hi,
I wanted to know about the capital gains.
Suppose a land cost 1 Crore and i buy from promoter, and i need 80 lakhs loan.
The bank says it will consider the value as 50 lakhs + 50 Lakhs meaning for stamp paper we consider the land
value as 50 lakhs(which is well above the guideline value) and the rest will be treated as land development cost and will write a separate agrrement with
the promoter.
The bank says this option is only because i am buying from a promoter, who has spent cost on laying road etc.
In this case while selling the land, can i show that i purchased it for 1 Crore or will it be considered as 50 Lakhs and the capital gains will be more.
Thanks
