Dear All
My query is I am going to purchase a plot costing 800000 inr, but the circle rate is about 1.75 lac. owner is asking for circle rate amount in check and rest in cash.
Please advice what to do I am an army personal and I have all white money.
I think by giving cash my white money will became black after the deal ??
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purchase of property in cash
Replies (3)
Sir
As per section 269ST no payment more than rs 2,00,000/- is allowed.
It is advisable to pay whole amount by cheque.
By paying cash the transaction will not be accounted and tax will be theft.
Jai Hind...!
As per section 269ST no payment more than rs 2,00,000/- is allowed.
It is advisable to pay whole amount by cheque.
By paying cash the transaction will not be accounted and tax will be theft.
Jai Hind...!
only upto RS 200000 is allowed as per income tax act under section 269ST. SO to avoid black money
make it in cash upto RS 200000 or online transfer.
make it in cash upto RS 200000 or online transfer.
less than 200000 not equal to 200000
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