banner_ad

Purchase car in cash

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 August 2013 hi
My client is purchasing a car in cash for personal use of value 4.5 lakh. is their
any implication of income tax?
Please suggest
Profile Image

CA Mehta Ankur N.

Profile Image

CA Mehta Ankur N. (Expert)
30 August 2013 No u can purchase any fixed asset in cash. Under Rule 6DD. No problem at all.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 August 2013 sir actually he is utilisng the undisclosed
money of 4.5 lakh and the car is not to be used in business
Please tell the implication of the income tax
Profile Image

CA Mehta Ankur N.

Profile Image

CA Mehta Ankur N. (Expert)
30 August 2013 then sorry....... i cant help .......

I Think all the undisclosed income will be taxed & tax to be paid with interest & penalty.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details