Luxury motor car
This query is : Resolved
09 November 2012
Dear all ,
Very very happy Diwali to all Members of CA Clubindia.
Here I would like to know that if any person buy luxury car then , does motor company send the detail of buyer to Income tax department?
Thanks in anticipation
Subhash Jain
Very very happy Diwali to all Members of CA Clubindia.
Here I would like to know that if any person buy luxury car then , does motor company send the detail of buyer to Income tax department?
Thanks in anticipation
Subhash Jain
09 November 2012
No , I dont think so there is any Statutory Requirement as such.
However the bank is required to submit Annual Information Report to the department where any transaction in excess of a specified amount is required to be reported
However the bank is required to submit Annual Information Report to the department where any transaction in excess of a specified amount is required to be reported
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