WHETHER A NEW CAR MUST BE PURCHASED FULLY IN CASH.
WHAT IS THE PAYMENT LIMIT WHICH CAN BE MADE IN CASH FOR BUYING A NEW CAR.
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PURCHASE A NEW CAR
Replies (10)
for business or personal
if purchase for business purpose than your cash payment in single day can not excess 10000
Personal use
if excess than your value of car reduce by such payment
no such limit
you can purchase in cash provided you have explanation regarding such cash
small amt can be ignored
not large amt
for business i am clear but for personal plz confirm from any one also
1% TCS will be deduct if payment is made in cash more than 2 lakh. but car value is more than 10 lakh then 1% TCS will be deduct whether made by cash or cheque.
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