269SS

Tax planning 512 views 2 replies

 PLS SEE THE ATTACHED FILE.

I faced a problen in one of the case;
suppose if plot of value 2 lac for which advance was given by me & my spouse jointly (30:70) but after when i applied fr registry society said that such property can be registered only in one person's name now how i transfer that 30% in my spouse a/c's. both of us b/s in 07-08 shows such proportion & now in 09-10 registry only in my spouse name now whether spouse can pay me those 3% in cash /bank or if paid in cash 269ss or 269t attracted on such loans or not b/c it is for plot


thanks in advance


Attached File : 14 cci best.xls downloaded: 105 times
Replies (2)

It will be better if you settle the transaction through cheque as there is no practical difficulty in doing so.  You would not require to answer the question of repayment in Cash. 


 Giving cheque towards loan/advance  repayment ,  will not attract any historical question. 

It's matter within the family and it can be managed , if not at a single time, then you can settle the things as per your conveniency by transferring small amounts also.

Otherwise, you have to explain those circumstances in which one of you became as lender and other  as borrower without  any a/c payee cheque.


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