Legal Question in Real Estate Law in India

Hello Sir,
"A" is company and land owner of non-agriculture land and company "A" has sale this land to "B" the another company. In sale deed the total amount is lessthen jantry rate but stamp duty paid as per jantry rate and sale deed registered in registrar office and clear by registrar. My question is
(1) Any party problem in future for pay any type tax ?
(2) What's problem in future when we mention Amount of Rs.in sale deed is not as per jantry rate ? (in sale deed mention amount Rs. 10/- and as per jantry amount is Rs.12/- for example).
(3)who is liable to pay tax in future?
(3) Give me a details of judgment, how to save our tax?

STATE - GUJARAT (INDIA)

Asked on 9/17/10, 6:39 am

Shrichand Nahar S.V.Nahar, Advocate

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0 attorneys agreed

1. Yes.

2. See provision of the Income Tax Act

3. Both, seller and purchaser as capital gains and deemed gift respectively.

4. Try google.

Answered on 10/08/10, 10:17 pm

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