watch_later 21/12/21

It person purchase of agriculture land value rs:15 lacs amount payment way by  cash mode in f.y.20-21.


Cash mode allowed in it act or penalty applicable

1 Response | Latest response: 30/01/22 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 30/01/22

You cannot pay by cash more than Rs. 20,000 in case of immoveable property.

A penalty equal to cash payment can be levied.

It is better to do transaction through banking mode, anyhow transaction will be reported to IT department whether done through cash or bank.


Sign up to discuss taxation, accounting and finance topics with experts from all over India.

Join Discussion