stamp duty and tax calculation
1 year ago
i am purchasing fully contructed non registered property from seller where seller is transferring it to me directly from builder. builder actual cost was 70 lakh but seller is asking 1cr. builder ll probably do govt registration on 70 lakh. my question is
1. if we do registration on actual cost 70 lakh ..would it be legal, wont govt ask why less stamp duty paid
how s
A.Dear Client
Undervaluing the property in the registration process is illegal and can result in legal consequences. It is advisable to register the property at the fair market value to avoid any legal issues. You may consider engaging the services of a registered valuer to determine the fair market value of the property before registering it. It is important to ensure that all necessary documentation related to the property is in order.Please seek an expert legal advice over this matter.
Undervaluing the property in the registration process is illegal and can result in legal consequences. It is advisable to register the property at the fair market value to avoid any legal issues. You may consider engaging the services of a registered valuer to determine the fair market value of the property before registering it. It is important to ensure that all necessary documentation related to the property is in order.Please seek an expert legal advice over this matter.
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