Pay Home loan using cash without income tax notice

[sidmanraj]

I am paying home loan of 10 lakh via cash….
How can I prevent income tax notice…

Which is the best bank home loan account which is not linked to PAN Card and allows cash deposit.

 

[Mr. X]

Agar family me 5 members hai to un sab k account me 2-2Lac deposit kr do agr 5 members nhi h to kuch friends k accounts me krva do 2-2Lac krke then ya to parts me payment kar do 10 lac ka ya fir apne account me transfer krva lo then payment kr do, in one shot.
Then vo Paisa cash nhi hoga.😅😅

 

[Cosmicgaze]

As far as i know banks will report to income tax, they will never give you any loans without PAN Card and other Id proof.
And they also will not accept cash repayment.
Not worth it.

If you have proof of source of the cash then speak to ca and deposit it in the bank. As long as you provide a proof you can deposit and pay some charges to bank. Now what income tax does to you is best asked to a ca

 

[ontherocks]

AFAIK, bank always asks for the source of money when you pay for down payment or pre payment, be it cash or digital money. If you can convince bank, then you can convince IT department too. And bank and PAN go hand in hand.
Your other option is private lenders/loan sharks.

 

[sidmanraj]

Agar family me 5 members hai to un sab k account me 2-2Lac deposit kr do agr 5 members nhi h to kuch friends k accounts me krva do 2-2Lac krke then ya to parts me payment kar do 10 lac ka ya fir apne account me transfer krva lo then payment kr do, in one shot.
Then vo Paisa cash nhi hoga.😅😅

Can we do the same 12 times a year?

 

[Mr. X]

Can we do the same 12 times a year?

No bro only 2 times max