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Cash purchase

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 January 2016 sir i am doctor can i purchase a used car on cash payment of rs 220000/-
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
22 January 2016 Yes you can purchase a car or any other capital asset / fixed asset on cash payment. However you should be able to substantiate the source of the cash.

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