An instrument of sale is the document that follows the agreement of sale and is the main legal document justifying the sale, assignment or transfer of ownership to a buyer. It determines the buyer`s ownership of the property and is the main document in each transaction. The execution of this document means that the transaction is concluded in accordance with the terms of the agreement. The document must be submitted for registration within four months from the date of execution. An additional period of four months may be granted with a contractual penalty equal to 10 times the registration fee. Valuation of stamp duty on the day of the agreement for sale: Rs 1.80.000 2. I intend to withdraw TDS also for myself on behalf of the buyer, since the total value of the underperformance is greater than Rs. 50 Lakhs. Because of this considerable delay, the Income Tax Act 1961 (Act) may raise problems with specific provisions such as sections 43 A, 50C and 56(2)(x) of the Act.
Let`s take a brief look at these paragraphs and the impact of these two agreements on income tax. If you say that 42 Lakh kreissatz/stamp duty value, then you need to display the difference as your income u/s 56, otherwise you will have to face verification in the future….