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Sale consideration in cash at the time of sale of land

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3 Points Posted on 06 May 2021
How much can I take the sale consideration in cash at the time of sale of land.
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On 06 May 2021 at 22:10 Report
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Chartered Accountant
24588 Points Posted on 06 May 2021
Upto 200000 rupees you can take in cash
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On 06 May 2021 at 22:34
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CMA
13117 Points Posted on 06 May 2021

You may accept <20,000 in cash in case of sale of land as per section 269SS of IT Act.

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On 06 May 2021 at 22:44
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Practice
1361 Points Posted on 07 May 2021
Less than 20000/- under section 269SS
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On 07 May 2021 at 11:01
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tax consultant
3306 Points Posted on 08 May 2021
When he is taking cash at the time of transfer of property how can 269SS come into picture?
i think only 269st would be in play in this scenario
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On 08 May 2021 at 11:50
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CMA
13117 Points Posted on 08 May 2021
Because 269SS specifically disallows receiving cash >=20,000 related to sale of immovable property.
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On 08 May 2021 at 12:15
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Chartered Accountant
24588 Points Posted on 09 May 2021
Agreed
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On 09 May 2021 at 05:58


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