Buying Resale Flat Owner demanding cash amount

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Aditya G (Software) 16 February 2021

Hi, I am trying to buy a resale flat, the owner is demanding certain amount in black(cash) ultimately showing less amount in agreement, i'm a salaried person, will this impact me in anyway, if yes then how? can anyone please guide me if i should proceed with this deal or not?

CA Altamush Zafar (GST Consultant) 16 February 2021

First of all it is illegal
second it will decrease your cost so if you will sell in future then there will be more income tax liability.
Since you are a salaried person you will be having 99% white money which will be transferred into black asset.
Not a good option