Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

I sold a plot at 100000

This query is : Resolved 


Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
Hi there,
i have sold my plot at Rs. 10 Lakh and received a first amount 2.5 lakh before Mr. Pm declare about 1000 and 500.
So now I am pending to get 7.5 Lakh and I have already asked buyer to send that amount to my account via NEFT or RTGS.
Now My problem:
Will I be elligible to pay tax when buyer is giving his PAN card while depositing cash to my account?
Please help me understand the process.


1.Beware: Penalty for Property Transaction in Cash from June 01, 2015
2.Any cash deposit bank has to give information to Income Tax Department.
3.cash deposited during the period of 10th November to 30th December, 2016,above a threshold of Rs. 2.5 lacs in every account. The department would do matching of this with the income returns filled by the depositors. And suitable action may follow.

Your problem gets solved when buyer deposits the money through NEFY or RTGS...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries