Easy Office
LCI Learning

sale consideration of hous can be received in cash or Not ??

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 January 2011 one of our client(Mr. X) wants to sell his house property and purchase another house property.

prospective buyers are ready to pay by cash only.

can Mr. X use that money for purchase of new house property. kindly suggest appropriate course of action.
Profile Image

Guest

Profile Image

Guest (Expert)
10 January 2011 Sales consideration can be accepted in case. Money so received in cash, can be invested in other house.
Profile Image

CA CS CIMA Prakash Somani

Profile Image

CA CS CIMA Prakash Somani (Expert)
12 January 2011 though he can do so but to avoid any legal complications better to receive it in bank only
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Vivek Raju P

Profile Image

Vivek Raju P (Expert)
12 January 2011 There is no bar to accepting the consideration in cash for the transfer of asset. So in my viwe it can be accepted.
Profile Image

Guest

Profile Image

Guest (Expert)
13 January 2011 There will no controversy if Sales consideration ia accepted in cash .

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links