Old property selling

then ask the buyer to pay full 1 cr by banker's cheque, 

try not to discuss such matters on public plateform, as this may bring some pain to yourself.

Agree with Sharma. 

you can deposit the entire sum of Rs.1crore in the bank and inform in your Income tax return that you have sold the property for one crore.

If the ITO asks why you received cash and not cheque, you can simply answer this is how the seller has paid you.

let the headache remain to seller.

I completely agree with shyam sundar you show Full Value Consideration of Rs.20lac.Your 1 crore is totally  white & shown in your IT Return simply.

Just ask the seller to pay through the chek itself so no headache ....otherwise declare that 20lacs in ur return..its better to declare full amount 1 crore..

Thanks for all your responses. 

1. Best Possible case: Take the whole amount in Bankers Check.

2. Is there any legal risk depositing the cash part in Bank savings account even if we are ready to file tax on the whole ammount ?

If yes then we will wait until we find a customer who will pay us whole amount in Bankers Check. Let me know your thoughts.

A CLIENT IS FACING A CASH CRUNCH IN HIS PROPRIETORSHIP CONCERN AND HE DOES NOT HAVE ANY CAPITAL TO INTRODUCE FURTHER.  HE WANTS TO SELL HIS OLD PROPERTY ,BUT THE TRANSACTION WILL TAKE TIME TO MATERIALISE, SO CAN HE TAKE  A PART OF THE SALE CONSIDERATION IN ADVANCE  IN CASH AND INVEST THE AMOUNT IN HIS  PROPRIETORSHIP CONCERN? 

PLEASE REPLY SOON