Bankers cheque is treated as cash?

david (Student CFA) (40 Points)

22 January 2017  

hello,

i have to pay an instalment to a site i am purchasing. The value of the site is 18 lakhs. I am told to pay an advance of 6 Lakhs Bankers cheque/DD.

I  wanted to check what is the amount beyond the bank will send AIR or report it to IT.

Are there any new thresholds issues for bankers cheque/DD issued after demonatisation.

Should i split the bankers cheque to 3 + 3 or 2 * 3

I went to a bank - They told me you give a cheque as self and we will issue a bankers cheque. I did not undestand this. Is this transaction treated as Cash Transaction.

I want to avoid cash transaction and i dont want to get into trouble.

please advice me.