12 March 2013
in case of sale of property value of property as per govt.rate is 3.00 crore but actually property has been sold for rs.2.00 crores, can we deposit rs. 1.00 crore in our account books.
12 March 2013
When the sale deed is of Rs.2 Cr which is actual; then how one can imagine to deposit Rs. 1 Cr. which is a matter of government valuation? . Just think differently-
if the value is taken by the government is Rs.5 cr..
and
he doesn't have that much
"black money"
in his hands;
would he be required to arrange that much money from someone else to deposit that money? . . What if the government says him to deposit the balance money Rs.5 Cr.-Rs.2 Cr. = 3 cr.( Valuation - Actual ) into his account? . ( It is always presumed that he would not have that much cash with him - according to money laundering act's amendments also ). . . Now answer it. . (Your home work).
CAclubindia
