outright purchase
This query is : Resolved
Manikandanv
(Querist)
19 January 2009
what is the meaning of outright purchase
give me example please
and advance thanks
give me example please
and advance thanks
20 January 2009
Outright purchase is the transaction whereby the property or goods in question is entirely purchased at once with complete rights on payment of full consideration and without any reservation or qualification.
Example: Pay full price of say, Rs. 5lac and take the delivery of car. as against the Car purchased with bank finance with hypothecation charge registered.
Any item purchsed under Hire-purchase or Instalment purchase is not an outright purchase.
Example: Pay full price of say, Rs. 5lac and take the delivery of car. as against the Car purchased with bank finance with hypothecation charge registered.
Any item purchsed under Hire-purchase or Instalment purchase is not an outright purchase.
Manikandanv
(Querist)
20 January 2009
Thank you very much Mr Ramesh Kumar Ahuja
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
