Purchase car in cash
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 August 2013
hi
My client is purchasing a car in cash for personal use of value 4.5 lakh. is their
any implication of income tax?
Please suggest
My client is purchasing a car in cash for personal use of value 4.5 lakh. is their
any implication of income tax?
Please suggest
30 August 2013
No u can purchase any fixed asset in cash. Under Rule 6DD. No problem at all.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 August 2013
sir actually he is utilisng the undisclosed
money of 4.5 lakh and the car is not to be used in business
Please tell the implication of the income tax
money of 4.5 lakh and the car is not to be used in business
Please tell the implication of the income tax
30 August 2013
then sorry....... i cant help .......
I Think all the undisclosed income will be taxed & tax to be paid with interest & penalty.
I Think all the undisclosed income will be taxed & tax to be paid with interest & penalty.
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