cash payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 January 2010
hi friends, i would like to know what are the various tax implications in case of cash payment for purchase of property ?
24 January 2010
you can pay in cash for purchase of property. No problem in income tax
but you should have cash in hand in books otherwise you will have problem to show source of money.
if cash is more than 50,000/- then wealth tax implication will arise.
but you should have cash in hand in books otherwise you will have problem to show source of money.
if cash is more than 50,000/- then wealth tax implication will arise.
07 February 2010
Agreed.. Since it is property i don't think that will be less than Rs. 50,000. suggestion is to make payment through cheque.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
