You will make that person do sales. You will show less
value of sales. You will say, give me some money in cash,
give me some money in cheque.
So brother, how will the government control this thing?
Assume there is a property worth 1 crore and you have taken
money from cheque worth 25 lakhs.
The 75 lakhs you have sold, you said, give me cash worth 2
crores.
So what will the government say?
If there is a property worth 1 crore, then how can you sell
it for 25 lakhs?
Something is fishy.
If there is a property worth 1 crore, then no businessman
will sell it for 25 lakhs.
So what did the government say?
It is a simple thing. Look at the stamp duty value of that
property.
Stamp duty value means, we had read this in the chapter of
house property.
What is the value of that thing in the government records?
What is the value of that property in that area, in that
city?
According to the government records, what is the value of
the stamp duty value?
Whom do you have to compare it with?
You are telling the consideration that how much you have
sold the property.
Compare it with that.
Whom do you have to compare the stamp duty value with?
We are telling that the stamp duty value is 1 crore.
We have sold it for 25 lakhs.
Which one should be considered as the value of the property?
Think about it according to the government.
I will not tell you the answer. You tell me.
Director sir, show it to me.
What should be its value?
In this case, its value will be this.
The value of 25 lakhs that you have shown, you have shown
it to fool people.
You have shown 25 lakhs.
I have taken it from the cheque.
I will put the sales in the P&L account.
But what will the government say?
Your sales are not worth 25 lakhs.
According to our records, according to our records, the
value at which we take the money from the registry,
according to that, your stamp duty value used to be 1 crore.
And now you are trying to fool people and show it as 25
lakhs.
You will reduce the sales.
You will show more expenses.
You will show less profit.
Your stamp duty value, your sales consideration will be
accepted.
This is the point that the government has drawn.
This is the point, sir.
But it has also given an advantage.
Sometimes what happens is that there are property dealings.
So in that, according to the payment of the parties, we
reduce the price.
For example, I have to sell a property worth 1 crore.
I have to sell a property worth 1 crore.
The stamp duty value of that property,
I explain to you that if I have to sell something and the
other party is giving me money on time.
Generally, the money is given in 3 months.
But if I give you the money within a week, if I give you
the payment within a week, then obviously that person will
ask for a discount from you.
If it is a property worth 1 crore, then it is possible that
you will get it for 95 lakhs.
Because there is also an interest of 3 months.
You are getting that money 3 months in advance.
3 months in advance, you will receive that money and invest
it anywhere.
You will get the interest.
Why are you waiting for 3 months?
It is possible that the transaction of the property could
not be completed for 3 months.
So if you are getting the money early, what do you give
that person?
You give a discount.
Because of this discount, sometimes there is a difference
between the stamp duty value and the sales consideration.
Sometimes there is a difference between the stamp duty
value and the sales consideration.
And the government thinks that the discount that you are
talking about is nothing.
You have done it for free.
What have you done?
You have done it for free.
Now a person in the property business what will he say?
If I am getting the deposit, suppose the customer in front
of me is giving me the money early, because of which I have
reduced the price, then what is the point of doing it for
free?
If I have reduced the price by 5-10%, then what is the
point of doing it for free?
So the government also thinks that it is fine, 5-10% is not
a big deal.
This is what happens in business.
You have given a discount to someone.
You have sold the property to a stranger.
You have sold it at a low price.
It is not a big deal.
So the government says that you are right.
We also understand that you are right.
So let's take a provision for this.
If your stamp duty value
is up to 110% of the consideration,
then the consideration will be considered.
Whatever you are saying that this is a sale, it will be
considered as a sale.
But if the stamp duty value is more than 110% of the
consideration,
in that case, it will be considered that there is a mistake
in your intention.
In that case, the stamp duty value will be considered.
For example, if the consideration is of 1 crore,
and the stamp duty value of that property is 1 crore 25
lakhs.
Is 1 crore 25 lakhs
more than 110% of 1 crore?
Think about it.
How much will 110% of 1 crore be? 1 crore 10 lakhs.
So is the stamp duty value more than 1 crore 10 lakhs?
The answer is yes.
In this case, according to the government, this value will
be the value of sales.
In the Profit and Loss account, the sales you will show in
the book, will be the sales of 1.25 crore.
But in which case?
If the stamp duty value is more than 110%, then what? 110%
of what? 110% of what? 110% of the consideration.
But if it is less than 110%, then it is okay.
In that case, the sales will be the actual sales.
It will be considered as a sale.
And this is the concept
I wanted to discuss with you.
Which I have already discussed.
This is the point.