Property Transaction - Payment Process

126 votes

In such cases, ensure the payment is made vide cheque or a draft and money that your paying should be visible in your income statements.

In simple, words for a cash outflow there should also be some proof of inflow of the same.

LawRato LawRato

581 votes

In such cases, ensure the payment is made vide cheque or a draft..and money that your paying should be visible in your income statements. In simple, words for a cash outflow there should also be some proof of inflow of the same.

Advocate Richa Relhan LawRato

541 votes

Stamp duty shall be payable on the purchase of property. The Sale Deed is compulsorily registrable document.

Advocate Ashima Puri LawRato

614 votes

You have to pay the requisite stamp duty on the sale consideration as applicable in Delhi (eg. 5/6/7 %) and have the sale deed registered at the office of the sub-registrar having jurisdiction over the property. Payment through cheque means the money is accounted for (it is white money) and there is no impediment in making such payment whether by cheque / draft as may be mutually acceptable to the parties

Advocate Rajat Joseph LawRato