dont mention 2 different amounts in sale deed
2) stamp duty is payable as per consideration mentioned in sale deed which should not be lower than circle rate
I m buying a pre owned apartment.The owner says that we can mention 2 different amounts in the Sale deed.Is it possible?If yes,then registration will be on what amount
dont mention 2 different amounts in sale deed
2) stamp duty is payable as per consideration mentioned in sale deed which should not be lower than circle rate
1. Sale Deed being a deed of Conveyance of Property CANNOT have two different transaction amount. Only one amount described as "Lump sum total consideration of Rs. 100/-, for so & so Property, including all appurtenant s, furniture's, etc... "
2. Stamp Duty payable will be on this total consideration amount, for all futuristic purposes which includes Mortgage /Loan /Income Tax LTCG purposes etc....
We are planning to make a sale deed of the amount 35lakhs(circle rate per square feet*the total built up area).The Sale agreement is made for 68 lakhs(agreed Sale price of the flat).Now the owner is telling that we can mention 35 lakhs in sale deed.But also saying to mention 68 lakhs is the actual Sale price.Can we do that way.As per my understanding we cant mention 2 different Sale price.We want to pay registration of 6% on 35 lakhs.Please help sir
1. IF you mention 35L THEN you pay 6% stamp duty on 35L.
2. IF you mention 68L THEN you pay 6% stamp duty on 68L.
3. With the above Seller party may claim that have paid him 35L and balance is pending. Avoid falling into such financial traps, since all this is a concealment & violation of Income Tax laws.
you cannot mention 2 different rates . better to mention actual sale consideration and pay stamp duty on said price
Stamp duty is payable on circle rate or sale consideration which ever is higher. If you are payign in white than mention 68lacs only. Or if you are showing sale amount rs35 lacs than 68 Lacs will not mention.
Certainly you are doing this to evade/reduce stamp duty.
1. Since the actual selling/agreed price is Rs.68 Lakhs and as per the circle rate, it works out to Rs. 35 Lakhs and hence 2 sale agreements can be prepared one for the selling price of Rs.68 Lakhs and the other sale agreement for the circle rate, which works out to Rs.35 Lakhs.
2. At the time of registration of Sale Deed, consideration is shown as Rs.35 Lakhs and a reference in it would be made to the agreement of sale showing Rs. 35 Lakhs and also stamp duty of 6% to be calculated based on Rs.35 Lakhs only.
3. The other agreement of sale showing the sale consideration of Rs.68 Lakhs may be destroyed after the sale deed for Rs. 35 Lakhs is registered.
4. In this way, both the seller and the buyer will be free of worries.
Two different amount cannot be mentioned in the sale deed. You need to mention the sale consideration amount in the sale deed.
The sale consideration amount mentioned in sale agreement has to be mentioned and on same amount stamp duty has to be paid.
See if you make sale deed on 35 lakh then in that case the amount paid over it shall be black money and there can be inquiry regarding same.
The amount should be payable as per Agreement of Sale Only. Because it only reflects that Total Consideration. The payment in part amount and the balance sale consideration.
What is two different sale consideration amount in a single sale deed ?
How can there be two different amount in a single sale deed?
You may revert with more clear query.
Your vendor is confusing you.
There can be no two different sale consideration mentioned in a single sale deed for the same property.
The sale consideration amount should be the same for which you are paying the stamp duty and not for any other amount that is mentioned anywhere outside the sale deed.
You better take a legal opinion before finalising the deal.
One sale consideration has to be mentioned in the Sale Deed, and that, the sale consideration shall not be less than the market value of the property. If it is less then the MV you will be penalized by IT Department and may impose etc.
1. No you cannot mention two sales amount on a single sales deed
2. If you mention both amount and pay circle rate at less amount mentioned on sales deed then a case of cheating and forgery can be filed against both buyer and seller.
3. You have to pay stamp duty at higher price if you mention that amount in sales deed.
The sale deed is a document which clearly mentions the price at which the property is sold and hence 2 prices cannot be mentioned.