BUYING A PROPERTY WITH CASH – TRANSACTIONS ABOVE RS.20,000/- MUST BE ONLY THROUGH CHEQUES AND DEMAND DRAFTS.


THE GOVERNMENT HAS FINALLY COME OUT WITH A NOTIFICATION RESTRICTING THE TRANSACTIONS IN THE PROPERTY IN TERMS OF CASH BY PERMITTING IT TO RS.20,000/-. ANY AMOUNT PAYABLE OR TO BE PAID MUST BE ONLY THROUGH AN ACCOUNT PAYEE CHEQUE/DEMAND DRAFT/PAY ORDER/BANK TRANSFER/RTGS. THE TRANSACTION IN CASH INVOLVES HIGH RISK AND THE BUYER WILL BE AT … Continue reading BUYING A PROPERTY WITH CASH – TRANSACTIONS ABOVE RS.20,000/- MUST BE ONLY THROUGH CHEQUES AND DEMAND DRAFTS.