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RuleMate India

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SHORT ANSWER: Yes, it is legal to pay for a house entirely in cash in India. DETAILS: - There are no specific laws prohibiting cash transactions for property purchases. - However, large cash transactions may attract scrutiny under the Income Tax Act. PUNISHMENT / IMPLICATIONS (if applicable): - If the cash payment exceeds ₹2 lakh, it may lead to penalties under the Income Tax Act if not properly reported. SOURCE: - Income Tax Act, 1961
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Disclaimer: This website provides general information on Indian government rules and laws for educational purposes only. It is not legal advice. Laws and rules may change. Always verify with official government notifications or consult a qualified professional.