Can i sell my property less than the agreement value

Sir, 

Yes you can as there was a recent ruling of Delhi High Court wherein it says u can do that ... 

For Tax implications you can contact CA Karan Chandna at 9871563826. 

Warm Regards 

Kapil Chandna Advocate 

9899011450

You cannot sell the property at less than the circle rate. It appears that the circle rate would be 45 lakhs or more. That should be the minimum sale consideration.

Dear Client,

            Circle rate means stamp duty value.  If you resell the property(House Property) below circle rate or sale price it 'd attract capital gains tax liability under Section 50 C read with Section 56(2)  of IT Act 1961.

Dear Client,

            Circle rate means stamp duty value.  If you resell the property(House Property) below circle rate or sale price it 'd attract capital gains tax liability under Section 50 C read with Section 56(2)  of IT Act 1961.

I do not understand the clarification given  by some learned colleagues. When the circle rate is suppose Rs.35 lacs, the purchase price was Rs.45 lacs(by bank loan etc.)  n he wants to sell for below the purchase price due to urgency but with the circle rate which was 35 lacs only.  In that condition, there is no question of any capital gain taxable under IT Act., though it is loss to the seller(which was his necessitty to sell at lower value than purchase price). Are we in any way not conversant with IT law as are CAs who are more specific in giving replies than us here? So let us test ourselves by trying to properly reply to the following:-

For instance, if the purchase priceof property is 6 lacs in 2007,(1) what would be the indexed price of the same property in 2017? & (2)if indexed price is less than the circle price(or collector;s guideline price line in the area),  (3) circle price is more but the indexed price  is less, then how the differential amount  is liable for capital gain under IT Act? (4) what if the seller a non-IT payee, gifts the excess amount to spouse, then CG is still liable to be paid?