16 November 2022
Yes, provided the purchaser is also an agriculturalist and both have no taxable income as per IT act. Otherwise as per sec. 269SS of IT act, Rs. 20,000/- is the limit.
16 November 2022
According to section 269SS of Income Tax Act, while transacting Immovable Property, 100% penalty will be levied if seller has accepted an amount of Rs. 20,000 or more in cash from the buyer.
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