Seeking advice - selling and buying property in india
I am buying a house in india worth 2Cr and my parents are contibuting by selling their current house for 1.2Cr. They will move into the new house. The developer of my new house is asking for 35% black. All i have is white money (bank loan + savings). Should i ask my parents to collect black from the person whom they are selling their house? If yes, then how much?
Not permissible... Wrong type of transaction
Why encourage this
Prepare to go to jail and subsequent visa scrutiny if you miss jail
What? Seriously? Jail? How does this invite visa scrutiny? These kind of transactions have been happening since many years in India.
Simple, every visa renewal goes thru a background check in India and if Indian tax authorities flag you as tax evader then game over.
How old are you, why are you asking strangers in a foreign country?
Foreign country? What's Blind's local country?
Blind's local "counties" are Santa Clara and King (Seattle+Redmond)
Is blind really the place to discuss such weird stuff
Such a builder would most likely mix 35% cow dung into cement. You get what you pay for
Don’t do it. People do black to white, white to white. White to black is stupid and dumb.
I thought there’s no more black money after banning some large currency notes
Hahahahahahhaha....and sky is made of Vanilla ice cream ?
Money is not black or white, it’s the transaction. By black, the builder is just asking in cash. When you register the property you have to pay on the value of the house. So by paying some portion in cash you can reduce the value of the property on paper. It’s the sad reality but it’s the kind of a norm in India now a days.
Why not try orange?