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What would be the impact of currency ban on properties?- Property Hotline
Posted
November 10, 2016
Views
990
November 10, 2016
990
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5:52Now PlayingExpert: Pannkaj Ghadiali, Tax Expert.
Question: What would the impact be of current currency ban be on properties. Our guideline value and market value are very different. There’s a huge gap. Properties have a huge inflow of black money. Will government be introducing a guideline amount?
Answer: The circle rates are the minimum rates by which you are supposed to have the transactions. If your transaction is lesser then that than the circle rate will be taken as the rate for the purpose of capital gains as well the payment of stamp duty. Only you will have to remember that the stamp duty is charged on the circle rate or the agreement value. It depends on which one is higher.
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