Investment
This query is : Open
19 December 2013
If a Partnership Firm not dealing in gold business want to purchase gold for investment purpose,is it possible or there is any problem according to law. Please guide me.
20 December 2013
there is no problem as far as investment is concerned. other thing is it is advisable the investment should be out of capital funds or profits of firm. On sale any profit earned will be taxable.
21 December 2013
If the partnership firm has taken cash credit facility from bank, even then can it invest in gold as it is not its trading item.
23 December 2013
Income tax wont object but bank may. As Cash credit facility norms may differ from bank to bank.
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?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
