Clarification required
This query is : Resolved
04 September 2012
A CLIENT IS FACING A CASH CRUNCH IN HIS PROPRIETORSHIP CONCERN AND HE DOES NOT HAVE ANY CAPITAL TO INTRODUCE FURTHER. HE WANTS TO SELL HIS OLD PROPERTY ,BUT THE TRANSACTION WILL TAKE TIME TO MATERIALISE, SO CAN HE TAKE A PART OF THE SALE CONSIDERATION IN ADVANCE IN CASH AND INVEST THE AMOUNT IN HIS PROPRIETORSHIP CONCERN?
PLEASE REPLY SOON
PLEASE REPLY SOON
CA Navin Jain
(Expert)
04 September 2012
yes you can do that subject to proof of cash receipt.
Message likes :
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04 September 2012
Thanks for the reply. Could you pls specify the kind of proofs required.
CA Navin Jain
(Expert)
04 September 2012
sale agreement of the property and receipt of advance payment
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