Seller is asking to pay capital gain from me, which is illegal after agreement sign

I am buying a property in Bangalore and cost of property agreed between seller and me is 7000000, but as I need loan of 62 lakh from LIC so I added agreement value as 7281250 to get 80% of value.

Seller has signed the agreement and I paid 72813 Rs as TDS as per government rule of 1% if property is more than 50 lakh.

now when we are planning to go for registration , seller is asking for complete long term capital gain to be born by me(around 14 lakh) as he wanted registration value as 2743500 only.

I am stuck now and need help , what need to be done.

Legally i should not be worried about capital gain of seller

asked Aug 26 '14 at 13:59 by Neeraj Tewari 11

Clearly, seller wants to avoid paying income tax on gains. You should cancel this deal if he does not agree to pay capital gain tax himself.

answered Aug 26 '14 at 16:27 by Pankaj Batra 5.2k320


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Asked: Aug 26 '14 at 13:59

Seen: 1,808 times

Last updated: Aug 26 '14 at 16:27