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
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.
CAclubindia
