Splitting the transaction across multiple banks and financial years may reduce the chances of automatic reporting, but it is not a foolproof method to avoid scrutiny.

The Income Tax Department tracks transactions using your PAN, which is linked across all your bank accounts. So even if no single bank reports a withdrawal exceeding ₹10 lakh in a year, the overall pattern can still be visible and may raise flags — particularly if you're already under scrutiny or involved in a high-value property deal.

Additionally, property transactions above ₹30 lakh are reported by sub-registrars to the tax authorities. You should also check the circle rate of the property, as it may push the reportable value higher — even if your declared sale/purchase price is lower.

Please note, under Section 269ST and 269SS, any cash transaction of ₹2 lakh or more (whether in one go or in aggregate for a single transaction/event) is prohibited. Violations can result in penalties for both the payer and the recipient — which in this case could affect both you and the seller.

If cash is absolutely unavoidable, ensure you maintain a clear paper trail:

Withdrawal slips

Bank statements

ITR copies

Any communication with the seller

Lastly, ensure that the seller is also compliant with Section 269ST, as penalties apply even if only one party is found violating the provision.

Contact us for more clarity,

Vanshika Bhardwaj & Company
vanshikabhardwajandcompany@gmail.com
+91 7838 440098

You're not alone in wondering this, Arant — it's a common concern for NRIs. If your income from India is more than ₹15 lakhs in a year, then how many days you stay in India becomes really important for tax purposes.
To keep your NRI status- you need to stay in India for less than 120 days in the financial year.
Once you cross 120 days, the tax department may treat you as a Resident (Not Ordinarily Resident), which means:
1. Your Indian income will still be taxed.
2. Your foreign income won’t be (good news!)
3. However, you might lose some NRI-specific benefits.
If you stay 182 days or more, you’ll be considered a full Resident, and then your global income becomes taxable in India too.
In a nutshell, if your Indian income is over ₹15 lakhs, try to keep your India stay under 120 days to avoid complications.
We would be happy to walk you through how this applies to your specific situation, including key FEMA rules you should be aware of.

You can reach us at
Vanshika Bhardwaj & Company
vanshikabhardwajandcompany@gmail.com
+91 7838 440098

Hi it would be considered a current asset in your case. But if the amount is not material say, if the amount is less than 5000, please feel free to write it off as an expense

Since you are running a coaching institute, these video lectures shall be treated as stock-in-trade viz. current assets and will be recorded in the company's balance sheet. After three years, post sale of these videos, you can recognise profit/loss in the company's income and expenditure account accordingly.