Hi, I am trying to buy a resale flat, the owner is demanding certain amount in black(cash) ultimately showing less amount in agreement, i'm a salaried person, will this impact me in anyway, if yes then how? can anyone please guide me if i should proceed with this deal or not?
Menu
Buying Resale Flat Owner demanding cash amount
Replies (2)
Quick Summary
First of all it is illegal
second it will decrease your cost so if you will sell in future then there will be more income tax liability.
Since you are a salaried person you will be having 99% white money which will be transferred into black asset.
Not a good option
second it will decrease your cost so if you will sell in future then there will be more income tax liability.
Since you are a salaried person you will be having 99% white money which will be transferred into black asset.
Not a good option
Agree with Zafar
Recent Topics :
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
Related Topics :
CAclubindia
