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Raj Chauhan   20 August 2019

applicability of section 269SS

Sir, i have to sell a house property at my native place. the buyer is insisting on paying the whole amount in cash. I would like to ask whether this would violate the provision of sec. 269SS of the income tax act, if the entire payment is received on the day of sale deed (no advance amount is taken)? Also, does it violate any other tax laws? Note: the rate agreed for sale is lower than circle rate.


 1 Replies

g isaac (Lawyer)     20 August 2019

You can verywell receive the entire cash and execute the sale deed.Either part payment or full payment the tax liability cannot be avoided.

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