dear Ahal/manish,
My friend has finalised to purchase one finished flat(ready to move) at Hyd.
The flat costs 36 lakhs, so he decides to pay 12 lakh and remaining to take loan.Pls suggest if paying thru A/C Cheque to builder is fine and will be ok from tax perspective, bcoz his builder doesnt agree to take a/c payee cheques rather cash only or only cheques in his name(builder’s).
Pls suggest which method of payment will be correct from future tax implications?
Rgd.
Brundaban