Hi,
We are in the middle of a deal where we want to sell our property. However, we didn't realize that since it has been only 2years & 4months since we purchased this flat, we will have to pay short term capital gain tax. We thought that if we are buying another property this would not apply to us. I would have cancelled the deal & waited till we complete 3 years. However, the buyer has already paid stamp duty. We haven't made the agreement yet. I know that to get a refund from the government is a waste of time. So we have decided to reduce our sale value to save on some tax. Now the concern is how do we rectify the stamp duty documents to show the new sale value? Also, can we hold on to the same stamp duty papers for 8months?
