Cash received against sale of land
This query is : Resolved
18 June 2016
Our Company cash received against sale of Land. it is mentioned in Registry that Amount Paid through cheque as well as cash at the time of Registry. My question is that whether Section 269SS is attract or not. in my view this is not applicable because we have not received any advance in cash for sale of property. Thanks CA VInay Sharma MOb 9990407498
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18 June 2016
Section 269SS is attracted if cash payment received in excess of Rs. 20,000 at the time of registration. See the provisions, it is advance or otherwise in relation to transfer of immovable property. Other than advance payment is covered here.
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