Under valued land sale deed: punishment

Guest (Querist) 23 March 2012 This query is : Resolved
Party A signed an agreement in stamp paper with party B to sell his 10 cents of land at the price 3 lakh/cent. The registration document shows only 1.5 lakh/cent to save the registration fee.

The party B came to the house of party A and paid the whole amount on the date of registration, and B left to the registrar's office with registration document.

Then, there was a quarrel between the family members in house of party A on division of the money. The police came and seized the money and the agreement paper.

The police asked to produce the registration documents also in support of the agreement.

Now, the question is that the amount seized is correct as per the agreement in stamp paper but its more than the amount shown in registration documents.

So, should A admit that he deliberately prepared the registration document showing less value to save registration fee? What is the punishment for showing the land undervalued in registration documents?

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Raj Kumar Makkad (Expert) 23 March 2012
Police has no power to seize such amount if the same is shown in the registration of the deed. The department of revenue can issue notice if the registration has been done undervalued but police has nothing to play any role therein.

Guest (Querist) 24 March 2012
The seized amount is almost double the amount shown in registration deed. The actual amount is shown only in the Sale Agreement in stamp paper between the parties.
So, can police report it as black money?

ajay sethi (Expert) 24 March 2012
how was money paid by cash or cheque?

if you have received rs 3o lakhs and agreement shows only 15 lakhs that means you have not paid stamp duty as per market value of land . there is undervaluation of property to save stamp duty

it appears that on account of inter family disputes police complaint has been filed . since A has received entire consideration from B the statement made by B will be significant . if B states that he has paid entire consideration to A then A should not make any statement that will contradict the true facts .

reading between the lines it appears lot of money was paid in cash by B . since cops have seized the entire money better adnmit the truth.
in this forum we cannot advise you to violate the law . contact a local lawyer

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