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Author Topic: Demonetization and selling property  (Read 39 times)

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Offline S.raja

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Demonetization and selling property
« on: November 21, 2016, 06:31:43 PM »
I have a property worth 30 lakhs. It is residential land with out building in it. I am a proper tax payer and I can get records for the amount for which I purchased this property .
Now I got an offer from a customer for 35laks. He is ready to purchase the property. However I cannot verify the tax history for the customer and also for the 35 lakhs.

With demonetization in place in India now, is it OK to accept the offer and sell the property?

Thanks a lot.

Offline adv.amarnath

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Re: Demonetization and selling property
« Reply #1 on: November 23, 2016, 10:45:12 AM »
Yes, you can proceed with the sale. You need not to get headache how he got money. You must accept money either in cheque or in bank draft. You can reuse the money by purchasing another property with prescribed to avoid tax on property gain
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Amarnath Sanyal
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