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.
10 Replies
Yash Chawda
(300 Points)
Replied 19 December 2017
if purchase for business purpose than your cash payment in single day can not excess 10000
Yash Chawda
(300 Points)
Replied 19 December 2017
if excess than your value of car reduce by such payment
Yash Chawda
(300 Points)
Replied 19 December 2017
you can purchase in cash provided you have explanation regarding such cash
Yash Chawda
(300 Points)
Replied 19 December 2017
for business i am clear but for personal plz confirm from any one also
anjali tyagi
(19 Points)
Replied 19 December 2017
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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