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 ??
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...!
CAclubindia
