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Can we give Rs.1.00 lakh cash to the seller?
05-Apr-2023 (In Property Law)
i have purchased a property at the rate of Rs.32.00 lakh. I have applied loan from bank which has been approved. in this regard i have given rs.1.00 lakh cash to selller. but now documentation lowyer apprised me that you cannot give more than rs.20000/- cash to the seller
See there is nothing wrong if the case paid in cash was of a valid earned money by you and you can prove it that it was a legally earned by you and not of No 2 money.
Though preferably all transactions done in cash is having barrier of Rs 20k but in certain special transactions where bank transactions can not be easily held it is permitted.
Note, any amount transaction in cash which is given from a legal source is a valid transaction.
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Adv. Anand Bali
Delhi | 25+ Answers
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