Investment
This query is : Open
19 December 2013
If a Partnership Firm not dealing in gold business want to purchase gold for investment purpose,is it possible or there is any problem according to law. Please guide me.
20 December 2013
there is no problem as far as investment is concerned. other thing is it is advisable the investment should be out of capital funds or profits of firm. On sale any profit earned will be taxable.
21 December 2013
If the partnership firm has taken cash credit facility from bank, even then can it invest in gold as it is not its trading item.
23 December 2013
Income tax wont object but bank may. As Cash credit facility norms may differ from bank to bank.
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