Land purchase
This query is : Resolved
20 December 2014
I hav cash balance of rs 4lakh in balance sheet bt no balance inbank...now i want to buy a land for rs 6.5 lakh, can i deposit those cash to bank in 2 or 3 times to enable myself to give cheque to the vendor, Is there any tax implication?
CA R SEETHARAMAN
(Expert)
20 December 2014
You said, in the balance sheet you have cash balance so it is accounted cash. You can deposit any accounted cash in to bank ac at one time by giving PAN.
Rupesh Jain
(Expert)
20 December 2014
yes you can deposit the cash in bank and issue the cheque to the vendor.
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