How to deposit money in bank, get from selling house
This query is : Resolved
27 December 2017
Hello, plz help I want to know
If someone selling house at 30 lakh, but seller don't pay tax as not earning that much.
But The buyer asking to pay amount 19 lakh only via cheque, acc to registrar guideline of land, and the remaining amount around 11lakh via cash.
I want to know how to show the whole amount 30 lakh white money in bank while depositing???
What is the legal procedure for this in selling property, and to depositing that money in bank account?
If someone selling house at 30 lakh, but seller don't pay tax as not earning that much.
But The buyer asking to pay amount 19 lakh only via cheque, acc to registrar guideline of land, and the remaining amount around 11lakh via cash.
I want to know how to show the whole amount 30 lakh white money in bank while depositing???
What is the legal procedure for this in selling property, and to depositing that money in bank account?
27 December 2017
No Legal way.
You are already breaking many laws including Income Tax Act.
You are already breaking many laws including Income Tax Act.
27 December 2017
Please tell me the way acc to law, I don't know that much about income tax act, wht I asked was told by buyer, please tell me the legal way to deal with buyers.
28 December 2017
If you are selling the property for 30Lacs, show the same in stamp paper & collect the full amount through bank. compute you capital gain based the period of holding & cost at which you purchased of the property. pay tax & file your return.
Message likes :
1 times
28 December 2017
Thnku dibinsir, plz tell me the tax percentage and procedure to fill the return
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
