Vehicle sale by employee to employer : is sale deed must ?

This query is : Resolved

CMA. Subhash Kumar Jha (Querist)
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20 November 2008 Sir,

An employee of a pvt ltd company is selling his car to his employer itself. Is a sale deed or vehicle sales agreement must for the company ?

Or, a simple car sale letter by the employee is sufficient??

kindly explain the legality of this situation.

Thanks,

Subhash

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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20 November 2008 A sale letter with the receipt of payment issued as acknowledgement of receipt of payment in consideration of agreed amount are sufficient for the said transaction.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Querist)
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20 November 2008 Thanks very much sir.

Subhash

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