Posted on June 7, 2010.
Deed sale or sale agreement for property income tax on the review of housing loans? I try to know how the purchase of the property with a bank loan is
represented income tax office.
Its well known that in the sale deed Bangalore shows a different price per apartment
registration and sale gives the actual price which the Bank offers
loan. Now, while presenting the details of home loan if we show bill of sale, then
Each loan will be more than the price of dishes that can not be true.
I guess the production contract of sale will be fair. Find out whether
sales contract is accepted by IT office or not.
If anyone has knowledge on this please reply
Contract of sale is not conclusive evidence to establish your ownership for the purposes of the Act on income tax. If you want to benefit from the deduction and rebate, you must file deed alongwith certificate of completion.
If you purchased the property using a bank loan, while lenders will not allow you to subscribe to the lesser value than the loan amount advanced.
measure the value of the property is always the same, but if the act was declared the highest tax higher then the purchase and sale of property, costs traditionally shared by the buyer and seller of well. Flag
as much as I do not know of a bank loan u AMOUT than what is shown on the registration of deeds (deed sales, as u call it).
I know that the real price displayed on the paper and actully paid is different across India, not just Bangalore.
Please check with your banker and u will get the same information that I give u.