Respected Experts,
I have a problem & need your advice on the issue. Please help.
I am planning to buy a house at Rs. 40. The vendor on the other part is requesting me to register the prop @ 30.00 ( afraid of capital Gain tax).
I have paid a consideration of 1 to vendor already, & wish to have a agreement for applying for the bank loan of 20. Now the vendor is asking me to apy the diff amount of 40.00 - 30 = 10.00 in cash before signing the agreement for sale. He also says that the same will not carry any referance anywhere & also I will not have any possesion also. We were suggested that we can have 2 agreements 1 for 30 declaring 10 as received & 2nd for 40 declaring as 10 received - the agreement for 40 will also say that the balance amount wioll be paid in terms of bank loan cheque & part cash at the time of registration of the property.
The vendor is not agreeing to this also. Please suggest the best way to go forward.
Yours truky,
Shashidhar
