How much cash can give for purchasing Land ?

Section 269SS 

Amendment:

Section amended by adding the sums received for transfer of immovable property (advance/ otherwise) whether or not ultimately the contemplated transfer takes place. Therefore, the seller of the immovable property will be liable to pay penalty on the amount accepted or taken in cash and not the buyer.

Implications:

On Contraventions penalty U/s 271D is attracted which is 100% of the amount received.

The  amendments u/s 269SS & 269T has come into force from 1st of June, 2015.

So, the SELLER cannot accept more than Rs. 20,000/- for sell of any immovable property, including land.