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
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Gst Sales of FY 2023-24
- RCM - commercial rent paid to URP under GST
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- Residential status for filling income tax returns in India
- Payable outstanding for years disallowance
- 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.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
