Legal Question in Real Estate Law in India
can i pay some amount of money in cash and some amount in cheque in dastavej
Asked on 10/28/15, 1:46 am
1 Answer from Attorneys
Vivek Mapara
Vivek N. Mapara
Sir
Under the IT Law, you cannot pay any amount beyond ceiling limit i.e 20,000 Rs. in Cash. it has to be by way of Cheque Only.
However, people do execute Sale Deed, by paying Cash and Cheque, however in Sale Deed, only the Cheque Amount is mentioned as actual consideration and not the cash. Moreover, the cheque amount has to near the Jantry Valuation.
Feel free to ask should you have any questions.
Vivek N Mapara
vnmlaws.com
Answered on 10/30/15, 9:52 am