If I sell my agriculture land in Rs 3 lac but the circle rate fixed by government is Rs.8 lac and registry stamp papers are to be made for Rs 8 lac, what do I show in my balance shaeet ?
If I show Rs 3 lac IT officials may claim that I am hiding it and if I show Rs 8 lac how do I manage to cover the gap of Rs 5 lac? It is very common in rural land.
