How to avoid balck money transaction?

adv.bharat @ PUNE (Querist) 12 May 2016 This query is : Resolved
Builder deamnd black money from client. That is they demand all money in cash which don't have any record from wher it comes and where it goes. But it hampered our economy. Make fraud and headache to client. sir Please guide how to aviod cush cash transaction.?
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Rajendra K Goyal (Expert) 13 May 2016
Refuse to pay in cash, pay only through Banking channel and obtain receipt of amount paid.

Income tax Rules prohibit cash transaction beyond threshold limit of Rs. 20,000/-.

T. Kalaiselvan, Advocate (Expert) 15 May 2016
Even if it is at the cost of losing the deal for purchasing the property, you should not allow your client to deal the transaction with black money, this will certainly create problem in the future.

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