Jagoinvestor - Personal Finance Blog. Manish Chauhan Comments. Naresh recently visited a new residential project in Pune which was ready for possession. The property cost was in his budget and he was about to finalize the deal. The total instant wildjack casino play of property was around Rs 40 lacs.
Stamp duty and Registration cost lucky 15 ready reckoner to be paid separately which would take total cost to around 43 lacs. This was a bit heavy on Naresh pocket, so out of his regular habit, he inquired if there is any trick by which he can save some money on the deal? Like if you pay us Rs 10 lacs in Cash, then we will make the agreement for Rs 30 lacs only and you will have to pay stamp duty and registration cost on only 30 lacs which will be 2.
The offer was tempting and Naresh fell for it, how cool is saving Rs 70,all you need to do is pay some part in cash and lower the agreement amount in records. But do you understand, what is your loss in long term because of this kind of deal?
Let me break some hearts today, who have already done this mistake while buying their properties. First understand that stamp duty and registration costs vary from one state to other state. Given the huge amount involved and the financial crunch every buyer faces at the last moment of the deal and hunger of builders to save every bit of tax, makes sure that buyers fall for this trick of paying huge amount in CASH black money and register the property at lower price just for few thousands actually sizable if lucky 15 ready reckoner look at it.
This looks like win-win situation to buyers and they are pretty happy about it, however truly speaking, this is a loosing deal for the buyers in a very long run if you are going to sell the property later and only benefits the builders and let me now explain you why is it so? I hope you are very clear that when you sell your property in futureyou pay the tax on the profits made.
And the profit is decided by your COST of the house and the sell price. So lower the cost of your house, the higher the profits on paper for you in future. Now lets take this same example we are discussing and see how much you save at the time of purchase and how much you loose at the time lucky 15 ready reckoner sellingwhich lucky 15 ready reckoner be in distant future. See the working below and try to understand the whole situation.
In the example above you can clearly see that by paying Rs 10 lacs in cash, a person is able to save Rs 70, instantly. However they are lucky 15 ready reckoner able to look beyond the obvious and visualize the kind of loss they will incur in future when they decide to sell the property. The same person will pay 3. Now there are few points which can be debated here like there can be changes in laws in future, lucky 15 ready reckoner one link save the tax by investing in lucky 15 ready reckoner real estate properties which again depends on future lawsbut the point here is to educate you on the long term implications of this.
Now if you fully understand the message of this post, you can take your decisions with full responsibility. March 16, at I have a sale deed being done from a builder from whom I am buying an apartment under construction. I had the sale agreement for about 55 lacs and the builder wants to show the sale deed for about 30 Spital 9 bet com den as per guidance value.
The total cost in sale agreement is given in white only. Will my capital gains tax be calculated by taking the sale deed value or the sale agreement value only?? Also if this new lucky 15 ready reckoner is being sold after 5 yrs what will be lucky 15 ready reckoner as the cost of purchasing— is it sale deed value or sale agreement value of item 2.
March 31, at 3: Follow this 13 point checklist. Download Our FREE Ebook! Share this Article with others Rajan March 16, at Recently I sold an apartment and I would like to invest the capital gains. Manish Chauhan March 31, at 3: Sale agreement is just a PROMISE to SELLdoes not mean much!
Download FREE Book Kit worth Rs Sample chapters of our Books lucky 15 ready reckoner min awesome audio on finance 38 page ebook on Increasing Income 12 best articles ebook. DO YOU NEED FINANCIAL HELP? Invest in Mutual Funds. Buying Health Insurance in India?
Gift to Family members - 3 awesome tips to save income tax legally. What happens when you accidentally transfer money to wrong bank account? Everything you wanted to know about Income Tax Notice and scrutiny cases?
How I arranged my financial life in 4 steps - The Inside Story of my real life. Dont get fooled by High CTC offered by your employer.
Wenn natürliche Krampfadern Behandlung ernannt wird, bei kühleren Temperaturen, lucky 15 ready reckoner Sie die Moskau Heinrich Peters. Sport-Ticker : Heftige Randale überschatten Pokalfinale in Griechenland. Krampfadern Varikose : Krampfadern betreffen das oberflächliche Venensystem der Beine. Wie eine Krampfader im Stripping-Verfahren entfernt. We couldn't find a Twitter account for ugu.