banner_ad

Cash Payments to builder

Others 1226 views 8 replies
I am purchasing a flat and the builder has asked for certain payment in cash. for said purpose I have transferred 2 lakhs each in my relatives account. Will those transactions attract any income tax provisions?
Replies (8)
Not taxable
You may give cash directly to the builder without depositing in relatives accounts
I have to pay 25 lakhs in cash and as per income tax act any cash transaction above 2 lakhs is not allowed
As per the act cash payment of more than 20,000 is not allowed
Pls ensure the title of the property.
It is advisable to pay money from the owners savings account/ current account
When you deposit money to relatives account if it's a blood relation there are other complications.
Consult an expert for comprehensive advise.
Yes consult an expert
For transferring any amount to relative attention is attracted towards Sec 56 (x) 2


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details