advance in cash above rs. 3,75,000/-
This query is : Resolved
29 December 2009
can an individual builder, receive an advance of rs. 375000/- in cash towards purchase of property by the former..
what will be the tax implication on both the lender and the borrower..
what if the borrower is a company..
what if the lender is a company..
what if both lender and borrower are a company...
thanks
what will be the tax implication on both the lender and the borrower..
what if the borrower is a company..
what if the lender is a company..
what if both lender and borrower are a company...
thanks
29 December 2009
yes, a builder can receive an advance in cash without limit against payment for purchase of property.
it will be business income for the builder.
it will be business income for the builder.
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
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Capital gain from sale of house property
- Is Personal Guarantee of Director is Compulsory in case of loan to company ??
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Sale Incentive booking
- Negative ITC in Table 4(A)(5)
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
