Cancellation of sales deed / registration deed
Raghavendra chitragar
(Querist) 24 March 2012
This query is : Resolved
Sir,s Smt Renuka has purchased one plot by using ( unaccountable money ) block money have no account of it and entered with an agreement dated 11-8-2010 and the purchase value of the Plot 320/- Per Squire feet total 1800 sqft value of the plot 576000/- But she has get undervalued registered dated 28-09-2010 an amount of Rs 117000/- she has misguided to the Government by paying less stamp duty and hide the information.and she has no income tax returns and not paid all type of taxes properly what type of punishment will give her and what type of government will take action against her
as we are desired to cancelled this type of registered deeds and also trying to loss the government revenues
what is Indian law relating to this ?
Raj Kumar Makkad
(Expert) 24 March 2012
In such case, the buyer may be given a notice by revenue authorities to make the deficiency of stamp duty if the value has not properly been shown.
So far source of money is concerned, only income tax department is competent to intervene therein and if may after providing sufficient opportunities of hearing, may impose penalty and maximum tax over unaccounted money.
V R SHROFF
(Expert) 24 March 2012
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