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Whether booking amt accepted by builders attracts 269SS

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(Querist)
17 September 2009 Pls tell whether advance booking amount against Flats accepted by builders & real estate devolopers attracts 269SS
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
17 September 2009 no....its advance n not in nature of loan/deposit
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CA Atul Singhal

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CA Atul Singhal (Querist)
19 September 2009 it means advace booking amount can be accepted in cash and can be repaid in cash.
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CA. Bikash Bogi

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CA. Bikash Bogi (Expert)
27 September 2009 it should be accepted otherwise than cash for preventing any difficuty in future
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CA Atul Singhal

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CA Atul Singhal (Querist)
27 September 2009 is it nessessary to take PAN and address details of depositor?

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