Easy Office
LCI Learning

Taxabilityor not

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
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.
Profile Image

CMA Ashutosh Kumar Gupta

Profile Image

CMA Ashutosh Kumar Gupta (Expert)
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.
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
01 September 2011 It is nature of gift/prize only, which is given on basis of chance and without price
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link




Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links