purchase of movable property
This query is : Resolved
CA Sadique
(Querist)
16 December 2016
i have filed return of income on 5-8-2016 for ay 2016-17 u/s sec 44ad by showing tuition income and paid tax of rs 200, at that time my bank bal was 110000
currently my bank bal is 165000
now my brother wants purchase a movable property ( tempo) (tata ace)(chota haathi) from my bank account as we have no cash due to demonetisation
what things i must ensure before making payment for property fron my bank account?
pls guide me
KAVIRAJA ADDANGADI
(Expert)
16 December 2016
In whose name you are buying movable asset?
CA Sadique
(Querist)
16 December 2016
in my brother name
KAVIRAJA ADDANGADI
(Expert)
16 December 2016
You have mentioned your Bank account, whether you are paying down payment?
CA Sadique
(Querist)
16 December 2016
no downpayment.
it is second hand property
Amol S Joglekar
(Expert)
16 December 2016
make an MOU between you and your brother.
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