Legal Question in Real Estate Law in India

Sir

Under the IT Law, you cannot pay any amount beyond ceiling limit i.e 20,000 Rs. in Cash. it has to be by way of Cheque Only.

However, people do execute Sale Deed, by paying Cash and Cheque, however in Sale Deed, only the Cheque Amount is mentioned as actual consideration and not the cash. Moreover, the cheque amount has to near the Jantry Valuation.

Feel free to ask should you have any questions.

Vivek N Mapara

vnmlaws.com