dear sir,
I am selling my agriculture land in cash? can it possible or not?
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Sales of agriculture land in cash
Replies (8)
Yes, You can sale your land for Cash.
Please sir,
Can you mention section also to??
As such, there is no specific Section that can put bar on cash sale of land.
But, it would be better to take payment through banking channel. Buyer can pay out of his black money. Even though you have no problem.
I remember that there is a section which can put restriction on cash sale of land and that is Section 269SS.
By referring Section 269SS of the Act, I suggest you that you must not accept cash for sale of immovable property in your case land.
it's not 269SS, it's 269ST WHICH RESTRICTS RECEIPTS BY WAY OF CASH EXCEEDING 2 LAKHS. SO IF YOU RECEIVE CASH EXCEEDING 2 LAKHS, SO MUCH OF THAT AMOUNT TO BE PAID AS PENALTY UNDER SECTION 271DA
Ok Sir,
Thank you so much for best answer.
Thank you so much for best answer.
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