Form No. 37G - Statement to be furnished to the registering officer under section 269P(1) of the Income-tax Act, 1961, along with the instrument of transfer (Omitted)
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Statement under section 269P: transferee must declare property details, consideration, estimated fair market value and related-party info. Form No. 37G requires the transferee to furnish a statement to the registering officer with the instrument of transfer, disclosing transferor/transferee ... Summary
Statement under section 269P: transferee must declare property details, consideration, estimated fair market value and related-party info.
Form No. 37G requires the transferee to furnish a statement to the registering officer with the instrument of transfer, disclosing transferor/transferee identification, detailed property description, freehold/leasehold status, building particulars, occupants and other persons interested, consideration stated, estimated fair market value, and details of exchange transactions. It further requires disclosure when consideration is below estimated fair market value-whether the transferee is a relative and whether a recital of love and affection is present-and particulars of any registered agreement to sell, together with transferee verification and signature.
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