I sold a plot at 100000

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2016 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.

Thanks,

Suresha R

Suresha R (Expert)
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21 November 2016 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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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04 November 2021 Your problem gets solved when buyer deposits the money through NEFY or RTGS...

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