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White money

Last updated: August 30 2007
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  • White money

    What is white money and why should one use as much white as possible in a real estate purchase?
  • #2

    #2

    Re : White money

    White money!!!

    White money, we can say, is the one for which the sources are known and revealed. One pay taxes on it and keeps record into his books of accounts!!!

    As far as second question is concerned, use of white money should be prefered not only in real estate but in all the transactions whatsoever. It brings transparency and accountability in the dealings as you get a legal receipt of the entire amount you pay towards a property.

    The same also becomes helpful in case of any litigation with the builder or any other authorities.
    Last edited August 31 2007, 09:07 AM.
    Regards,
    Vikram

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