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05-12-07
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#1 |
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White money for buying LIG flats?
i want to buy a flat (lig) at dwarka, i can get home loan amount of maximum 2500000 (25 lacs), i went to a property dealer and here comes my confusion "they talk about white money" in lig flats i can get as much white upto 10 lacs. i dont know what is white money and what is the benifit of getting much or lower white money ?
 pliz help......
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05-12-07
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#2 |
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New Member
Join Date: Nov 2007
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Hi,
white many means all the many are accounted, so the seller needs to pay the tax on that. So he will many a deal with you for 10 lakhs and remaining he will ask as cash. This was the recorded deal amount is only 10 lakhs. the remaining amount is unaccounted and the seller wont use that figures for tax computation. Regards Johnson |
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| buying, flats, lig, money, white |
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