Legal Question in Real Estate Law in India
legal
What is this white component and black component, that people talk about during buying and selling of land?
4 Answers from Attorneys
Re: legal
White money is mentioned in sale deed and on said amount stamp duty is also being paid to govt but black amount is not mentioned in sale deed and transaction takes place under the table.
Re: legal
Inquire with Income Tax Dept.
Re: legal
White component is usually described in the Sale Deed. The transactions are showed in cheque which is a white taxable entry mostly in the indenture of the Sale Deed.
Black component(money) is usually paid in cash money as to save the tax which is payable to indivudual/company.
Re: legal
White component is usually described in the Sale Deed. The transactions are showed in cheque which is a white taxable entry mostly in the indenture of the Sale Deed.
Black component(money) is usually paid in cash money as to save the tax which is payable to indivudual/company.
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