Property Sale Deed or Sale Agreement for Income Tax scrutiny on Housing loan?

I'm trying to find out how the property purchase with bank loan is

represented to Income Tax Office.

Its well known that in Bangalore sale deed shows a different price for flat/house

registration and sale agreement gives the actual price on which Bank offer

loan. Now while presenting details of housing loan if we show sale deed then

loan amount will be more than the price of flat which can not be true.

I will asume producing sale agreement will be fair. Trying to find out if

sale agreement is accepted by IT office or not.

If anyone has any knowledge on this please reply

Property Sale Deed or Sale Agreement for Income Tax scrutiny on Housing loan?

Sale agreement is not a conclusive evidence to establish your ownership for the purpose of Income Tax Act. If you want to avail deduction and rebate, you should produce Sale deed alongwith completion certificate.

If you have purchased the property by availing bank loan, then the lenders will not allow you to register for the value lesser than the loan amount advanced.

Property Sale Deed or Sale Agreement for Income Tax scrutiny on Housing loan?

the deed value of the property always stands the same, yet if the deed value was declared highest then higher tax on buying and selling property, costs traditionally shared by both the buyer and seller of the property. Report It

Property Sale Deed or Sale Agreement for Income Tax scrutiny on Housing loan?

as far as as i know no bank will loan u an amout greater than what is shown on the registration deed ( sales deed, as u call it ).

I know the actual price shown on paper and actully paid is diffrent all over India, not bangalore only.

Please check with your banker and u will get the same information that i am giving u.