sale consideration of hous can be received in cash or Not ??
This query is : Resolved
09 January 2011
one of our client(Mr. X) wants to sell his house property and purchase another house property.
prospective buyers are ready to pay by cash only.
can Mr. X use that money for purchase of new house property. kindly suggest appropriate course of action.
prospective buyers are ready to pay by cash only.
can Mr. X use that money for purchase of new house property. kindly suggest appropriate course of action.
Guest
Guest
(Expert)
10 January 2011
Sales consideration can be accepted in case. Money so received in cash, can be invested in other house.
12 January 2011
though he can do so but to avoid any legal complications better to receive it in bank only
12 January 2011
There is no bar to accepting the consideration in cash for the transfer of asset. So in my viwe it can be accepted.
Guest
Guest
(Expert)
13 January 2011
There will no controversy if Sales consideration ia accepted in cash .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
