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(Querist)
04 September 2012 A CLIENT IS FACING A CASH CRUNCH IN HIS PROPRIETORSHIP CONCERN AND HE DOES NOT HAVE ANY CAPITAL TO INTRODUCE FURTHER. HE WANTS TO SELL HIS OLD PROPERTY ,BUT THE TRANSACTION WILL TAKE TIME TO MATERIALISE, SO CAN HE TAKE A PART OF THE SALE CONSIDERATION IN ADVANCE IN CASH AND INVEST THE AMOUNT IN HIS PROPRIETORSHIP CONCERN?



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CA Navin Jain

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CA Navin Jain (Expert)
04 September 2012 yes you can do that subject to proof of cash receipt.
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NEHA GOEL

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NEHA GOEL (Querist)
04 September 2012 Thanks for the reply. Could you pls specify the kind of proofs required.
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CA Navin Jain

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CA Navin Jain (Expert)
04 September 2012 sale agreement of the property and receipt of advance payment

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