Income tax

Shehbaz H Naqvi (Querist) 24 February 2016 This query is : Resolved
Sir,

I have sold my property for Rs 92 lakhs and i received Rs 50 lakhs in cheques for this deal.

Now i want to purchase a property which is of Rs 11650000/. How much should I take amount in cheques. plz reply urgently. i am a govt servant working in university as assistant professor.

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Anish Thakur 7018812737 (Expert) 25 February 2016
Dear Querist,
Being a Govt. servant there is permission to take from your department for purchasing any land. feel free to call for more details.

Rajendra K Goyal (Expert) 25 February 2016
What is the amount of registration of property?

It would be advised / better to take full amount through Banking channel / cheque.

Suhail A.Siddiqui (Expert) 25 February 2016
u can take cheque up to minimum to the Capital gain or upto the amount of new house purchase.

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