Adv Vinay Mathur + 8447131770 (Advocate) 16 October 2020
SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 17 October 2020
Yes, it's the proof of payment of consideration appearing in the Registered title deed.
However, cash can be accepted upto only the permissable limit as per Income Tax Act.
Dr J C Vashista (Advocate) 17 October 2020
What is the problem in opening a new bank account by purchaser, which has become compulsory in contemporary times ?
What is the legal dispute involved in the procedural facts posted ?
G.L.N. Prasad (Retired employee.) 17 October 2020
The proper way is to abide no risk and safe way, and rules can not be bent to suit any one's specific requirement. Purchasing a demand draft for consideration amount and providing full details is the proper way to include in sale deed.
SHIRISH PAWAR, 7738990900 (Advocate) 17 October 2020
Cash transaction over and above the limit is not safe at all. It is better to avoid such transactions.
Hemant Agarwal (email@example.com Mumbai : 9820174108) 17 October 2020
|Originally posted by : Vijay shankar
|The seller want all transaction in bank account, but buyer don't have any bank account. Can he deposit cash after disclosing mode of payment as cash deposit in seller's account in the sale deed ? Or it is not permitted even after disclosing
1. YES .... Seller can take Cash and Buyer can pay Cash for immovable property PROVIDED both the parties are ready for prosecutable offences under the Income Tax Act & PMLA.
Keep Smiling .... Hemant Agarwal
GANDHI MOHAN BHARATI (Pensioner) 17 October 2020
if payment is in cash more than 2.00 lakhs entire amount will be taken away by the Government under income tax Act. Funnily this is applicable even to hospital bills !!!!
P. Venu (Advocate) 17 October 2020
Any contract or condition in contract which is opposed to public policy renders it void.