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Agriculture land pay cash purchase

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B.com
3024 Points Posted on 01 July 2022
it assessee purchase of agriculture land value rs:30 lacs payment through on cash mode.
question:
assessess payment amount cash mode accepted in it act.
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On 01 July 2022 at 17:20 Report
Replies (2)
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12244 Points Posted on 01 July 2022
There's no restrictions for purchaser to make payments in cash except to prove the source for the same. the seller shouldn't receive sale consideration in cash in excess of 20000 else the seller would be liable to penalty under section 271D in violation to provisions of section 269ss
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On 01 July 2022 at 18:04
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Chartered Accountant
86505 Points Posted on 01 July 2022
You can made payment in cash , there is no restriction. But asked to seller as he can't accept
1 Reply
On 01 July 2022 at 21:10


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