435+ Lawyers are online 
Divorce through Mutual Consent Petition | Settlement Amount in Cash
02-May-2023 (In Divorce Law)
Hi all,nHusband and wife planning to settle the divorce through mutual consent. However, the husband is insisting on paying all the lump-sum amounts via cash. Is it possible to file a petition where the 40 lakh amount is settled via cash?nI am not sure about this because the income tax department has stated that no more than 2 lakh can be used as cash for any kind of transaction.
Petition for mutual divorce can be filed for whatever settlement is arrived upon, provided terms and conditions of mutual divorce should be legal. Mode of payment can be anything. Income tax authorities can only levy tax on income by any sources, they can’t stop the mode of payment adopted by any of the parties to pay the lump-sum.
Helpful?
Adv. Gurmeet Singh
Mohali | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Divorce lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
