Kishan (Team Lead) 21 June 2013
Hi, Thank you in advance. Myself Kishan from Bangalore. I have recieved the agreement draft from the buyer for my grandfather's property in which he has mentioned the total money of the land which is above the govt. land rate.
Is it nesessary to mention the actual cost or is it better to take the money without mentioning in the agreement papers?
kavksatyanarayana (subregistrar/supdt.(retired)) 21 June 2013
it is better to mention the actual price though it is higher than the government rate and pay the necessary stamp duty on the actual price.
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 21 June 2013
Section 27 of stamp duty act, clearly mentioned that the consideration, if any, the market value of the property and all other facts and circumstances affecting the chargeability of any instrument wtth duty, or the amount of duty with which it is chargeable, shall be fully and truly setforth therein.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
