Land buyer
This query is : Resolved
22 October 2024
Why would buyer insist on paying in white for land purchase?
Dhirajlal Rambhia
(Expert)
22 October 2024
White transactions create a clear paper trail, which can be essential for future legal and financial matters. Paying in white avoids risks of penalties, fines, or legal consequences associated with black money transactions. It ensure a clean title, free from encumbrances or disputes. Buyer can claim tax deductions or benefits for property purchases made with white money. By insisting on paying in white, buyer demonstrates his commitment to ethical business practices, transparency, and tax compliance.
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