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- If the entire cash is being reflected in sale agreement it should be in order.Only consult lawyer to draft an appropriate sale deed.
There is nothing to my knowledge known as sales tax number for such transactions.PAN number is the requirement.CommentQuote0Flag
- Obviously these guys don't want to pay any sort of tax, that is why they are asking you to pay in black. You don't need any loan for this? Be careful and do a thorough verification and make sure there are no chances of litigation in future.
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- Thanks Vaibhav. Just to make sure we are on the same page, the PAN number of the seller must be captured in the Sale Agreement and in the Sale Deed right ?
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- There is something fishy about this.
They can simply tell you what name to write checks on, I am sure you wont mind writing 10 different checks to 10 people, depending upon how they want to share the loot.
And if they dont like checks, demand draft will also work the same. If they dont have a bank account that is a different problem.
I would be very wary of doing transanction with these kind of people.CommentQuote0Flag
- If 4 brothers have right on the property, then ensure that in sale deed, it is mentioned amount of money given to each person. Otherwise, one person's name will be in the sale deed. Other brother will go to court saying he did not receive money and he was also rightful owner.CommentQuote0Flag