Hello sir , i have two questions . 1- My builder has given one sale agreement (29 lakhs) and one construction agreement (42 lakhs). while doing registration on sale deed document amount is of 55.47 lakhs. while as per guidance value sale deed value should be 57.77 lakhs. but the stamp duty i paid considering 57.77 lakhs. Do you see any problem here? 2- Next question is about TDS . i should pay TDS on sale deed value ( 55.57 lakhs) or on full amount paid to builder (29+42=71 lakhs ) . ?
Your answer to Question 1) So long as you have paid stamp duty on guidance value even if the value shown in the sale deed is much lower, it is absolutely correct and legal. I see no problem.
Q-2) You state that you registered the property at Rs.55.47 lakhs, TDS @ 1% must be deducted by you into the builders PAN No. online and paid by you. TDS to be reckoned on the total sale consideration value shown in the document.
You have paid stamp duty as per circle rate although amount mentioned in sale deed is lower
2) ) for the purpose of calculation of capital gains circle rate would be taken into consideration and not the price mentioned in sale deed .
3) section 50C of the Income-tax Act, 1961 clearly mentions that the liability on capital gains would arise on the value of the property as fixed by the state valuation authority .
4) do not foresee any problems
5) For manner of deduction of TDS in case of purchase from Resident Indian, TDS @ 1% for purchase of property from Resident Indian.on total sale value
1. The stamp duty is calculated by the concerned registration office only and it may not match with the actual market value or what you're paying the to buy this property.
2. Sio if you are directed by the registration office to make payment on 55.7., just do that. The mentioning of 55.47 in ale deed shall have no problem.
1.The sale deed has to be registered at the circle rate. As long as there is no evasion of stamp duty there shall be no problem.
2. TDS has to be paid on 55.57 lakhs.
There wont be any problem if the price of the property purchased shown in the registered sale deed is lesser than that of the guidance value. But it is important that the stamp duty should be paid as per the guideline value.
The TDS will always by on the sale consideration amount and not on the extra amount paid under some other arrangement.
However make sure that how do you account for the extra amount.
