Property Transaction - Payment Process
17-Apr-2023 (In Property Law)
Regarding the payment (say 11 Crores) for a property transaction in Delhi, what are the steps/procedure of making the payment via bank cheques/draft etc. e.g. taking permission from the income tax deptt. What legal formalities are required to be taken by buyer and the purchaser.
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.
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