Hi,
I recently sold my property in another city. I have received 60% of the money from buyer in cash. Rest 40% was paid through cheque. i could not help it, given how Indian real estate works.
I want to know how do I make sure that I am able to utilize this 60% money in a proper way, without paying any tax. I cannot afford to pay any tax on this 60% as it is my only saving for future as of now. How do i legitimize it, and another question also here is that how do I move this 60% money in cash from the city where i sold the property to my current city in India.
Any help / advise, greatly appreciated.
CAclubindia
