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Property registration value

Querist : Anonymous (Querist) 01 September 2020 This query is : Resolved 
Namaste sirs

The government guidance value of property is 23lakhs for which buyer inccur 1.5 lakhs towards registration

The market value is 36 lakhs

Now if i take DD for 36lakhs will registration charges exceed beyond 1.5lakhs at buyer end

Please guide ME

Isaac Gabriel (Expert) 02 September 2020
The buyer need to pay the stamp value for the guideline value.
Dr J C Vashista (Expert) 02 September 2020
Stamp duty has to be paid by vendor or vendee as mutually agreed between them, there is no hard and fast rule for the same.
Generally it is paid by purchaser on consideration which cannot be less than minimum i.e., circle rate.
SHIRISH PAWAR, 7738990900 (Expert) 02 September 2020

In your case property value for you is 36 lakhs as you have accepted 36 lakhs towards price of property. The buyer has incur 1.5 lakhs for registration of property. If your stamp duty exceeds already paid amount in that case buyer has to again pay the additional charges for the same. It is for the buyer to pay for stamp duty and registration charges.
Rajendra K Goyal (Expert) 02 September 2020
It is supposed that the property was purchased at circle rate (guidance value) as stamp duty was paid accordingly.

Any amount accepted beyond it is black / unaccounted money without any proper disclosed legal source of income.

It is better to show actual value in purchase deed and pay registration stamp duty accordingly.

Advocate Bhartesh goyal (Expert) 02 September 2020
Stamp duty is to be paid on sale consideration which should not be less than circle rate.
P. Venu (Expert) 02 September 2020
Stamp duty is to be paid for the consideration, as disclosed in the conveyance deed.
kavksatyanarayana (Expert) 02 September 2020
The Stamp duty and Registration fee have to be paid on the consideration or Guidelines value whichever is higher.
Rajendra K Goyal (Expert) 03 September 2020
How you want to show the excess to be received Rs.13 lacs in your books?

Taxation authorities may slap heavy tax, penalty, interest on this considering it as income of your current financial year from undisclosed sources, which may result just near to this amount.If this amount is not shown in IT return.

Stamp duty may have to be paid only 7 - 8% while if income considered of current year it may amount minimum 35% (aprox.) if taken by you in the return.

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