New Delhi, July 30 -- A Reddit user recently claimed that their mother inherited a property from her own mother and later sold it to a builder who allegedly insisted on making the payment in cash. According to the post, the family is now holding Rs.50 lakh in cash with no banking trail for the sale consideration, although they possess the property documents related to the transaction.

"She sold it to a builder who insisted on paying in cash. She was alone during the dealing, didn't know better, and ended up accepting Rs.50 lakh in cash," the user wrote in the social media post.

The person sought advice from other Redditors on how the amount should be declared in the income tax return (ITR) and what taxes would be applicable on the trans...