For transparency, a lot of buyers and sellers like bank transactions, however, can I mention cash in flat sale deed? Yes, you can mention cash as a mode of payment in a flat sale deed in India.
Can I Mention Cash in Property Sale Deed?
Yes! You can mention cash, however, there are some important considerations:
Ensure that the cash transaction complies with the Income Tax Act, 1961. Large cash transactions (above Rs. 2 lakh) are generally discouraged and may attract penalties under Section 269ST.
Clearly mention the cash payment in the sale deed, including the amount, date, and receipt details. Both parties should sign the acknowledgment of the cash payment.
It is advisable to keep the transaction transparent and maintain proper records to avoid legal complications or scrutiny from tax authorities.
If you're planning a property transaction, consulting a legal expert can help ensure compliance with all regulations. I hope this helps!
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Can I Mention Cash in Flat Sale Deed?
Tuhin89
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8 months
2025-03-28T12:18:35+00:00 2025-03-28T12:18:36+00:00Comment
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