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How to buy a plot in cash

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(Querist)
16 May 2018 Hello sir,
How can I buy a plot in cash
Plot price is 6.40 lac
And I am filing income tax too
Yearly income is 2.80 lac

So,could please tell me a procedure
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 May 2018 If you have past savings then deposit cash in your bank account and pay chrque to the vendor. You can pay only upto Rs 20000/ in cash.
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Rahul soni

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Rahul soni (Querist)
16 May 2018 OkaY ... And what can I do if vendor want whole amount in cash ?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
17 May 2018 If you wish to fufill the wishes of the vendor, you can do so however you will be liable to pay penalty of an equal amount.
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Rahul soni

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Rahul soni (Querist)
17 May 2018 No No I'll pay through cheque only ...
Thank you so much ca paras sir

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