Property Purchase transaction with cash coponent
1 year ago
The question is academic and need practical view.
If at the time of agreement for sale 5 lac is paid in cash and 5 lac by means of a cheque.Can we record the same in agreement as :
1.Rs 5 lacs paid byway of cheque No 12345
2.In case of termination of the agreement ,the seller have to pay Rs 10 lac.
It is a trick to record cash component.
Is this valid?
Under which acts it could be protected and interpreted AS THERE IS no mention of cash paid in the agreement.
Kindly advise.
Thanks
A.Dear Client,
It is advisable to consult the opinion of a CA in this matter for better clarity and guidance. Thank you.
It is advisable to consult the opinion of a CA in this matter for better clarity and guidance. Thank you.
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