Transfer of property dha

Hi, i am selling a plot in dha islamabad for 190 million and the dealer has told me that his client will pay though bank draft for only dc value (37 lac) and the rest will be paid in cash. Furthermore, he is adamant that while transferring the property sale price will be declared in dha as only the dc value (37 lac) not 190 million.
Keeping in view the new ordinance, is it illegal or unwise to contract such deal as now government can buy the same property for double the declared price.

Need urgent advice for a kind hearted fellow

Umair sb first of all no one agrees on handling such big amount as cash as it is always risky. Secondly, there is always an agreement other than the one which mentions the dc value, which states the original value. By this mechanism to which he is convincing u, ur amount other than that of the 37 lacs would be treated as black money in such case because u would have no proof that ubsold ur plot for 19 million.Yes in dha while transfering, the agreement mentions the dc value but there is always a second agreement which mentions original sale value.

Well explained by Falcon. Write 2nd agreement/receipt other than DC value agreement. Even your bank will question if you deposit such amount in your account.

One can always write a personal check marked as "gift" which are still not taxable as per my info.

JDm Sir.I think gift checks are not accepted in such cases and they are only allowed in case of dealing between the blood relations,as far as i know.I may be wrong.

There is no thing as gift check, it's personal check which you can later treat as gift for accounting purposes. After all he will be answerable for all the money coming in to his bank account regardless of what he shows in DC value agreement. Also gifts are not limited to relatives. FBR rules are different than DHA's.

Let's say FBR sends him an audit 5 years from now. How would he explain additional payment? So he has to play by the rules even when he is stepping in to a grey area transaction.

Thank you gentleman for the kind response. Grateful