Taxabilityor not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
if real estate company will give free car with purchase of flat and charged only flat cost. is it any tax liability on car.
means its not gift and not lottery or winning item. scheme for some flats not for all.
means its not gift and not lottery or winning item. scheme for some flats not for all.
01 September 2011
..it's subjected to TDS because the real estate company is not in the business of selling the car, the instant scheme of car with Flat is a part of incentive or sales promotion activity, sec.194B is to be applied with.
01 September 2011
It is nature of gift/prize only, which is given on basis of chance and without price
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