Gold Bullion Business
This query is : Resolved
Ashutosh Joshi
(Querist)
30 December 2008
Can we purchase GOLD above Rs.20000/- in cash, It is allowable or not as per I.Tax in gold bullion business
31 December 2008
No, it is not allowable
31 December 2008
Purchase expenditure will be disallowed u/s 40(A)(3)of the Income Tax Act,1961.
Ashutosh Joshi
(Querist)
31 December 2008
thanks to both of you for reply
Ashutosh
Ashutosh
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