Gold and silver jewellery transaction sec 44ad person
This query is : Resolved
Kollipara Sundaraiah
(Querist)
15 February 2025
Sir,
Assessess sec 44ad provision declared net income rs:8 lacs f.y.24-25 and purchase of silver and gold jewellery transaction rs:10 lacs two times f.y.24-25
Question:
Assessess purchase of silver and gold jewellery transaction how many times and how much purchase worth one fincial year of it act
2.assessee declared income vs purchase worth difference tax applicable or not.
Assessess sec 44ad provision declared net income rs:8 lacs f.y.24-25 and purchase of silver and gold jewellery transaction rs:10 lacs two times f.y.24-25
Question:
Assessess purchase of silver and gold jewellery transaction how many times and how much purchase worth one fincial year of it act
2.assessee declared income vs purchase worth difference tax applicable or not.
Nikhil Kaushik
(Expert)
15 February 2025
you can purchase as much as you want as long as you can show the source of the income.
44AD as such gives you an out but still it high value purchases can lead to notices.
44AD as such gives you an out but still it high value purchases can lead to notices.
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