Cash Payment for Purchase of Land?
This query is : Resolved
23 August 2008
If i Pay Cash Payment for Purchase of Land for 22 lakhs withdrawing from my bank...
what about 43AB?
All this 22 lakh is paid one time and in same day?
Will it allows?
what about 43AB?
All this 22 lakh is paid one time and in same day?
Will it allows?
23 August 2008
if you purchase a land on cash & it is your investment & not for trading activity then no addition is made otherwise it is taxable income
23 August 2008
No......you can capitalize it as the payment made in cash for purchase of a asset
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