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purchase of movable property

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(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
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
16 December 2016 In whose name you are buying movable asset?
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CA Sadique

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CA Sadique (Querist)
16 December 2016 in my brother name
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
16 December 2016 You have mentioned your Bank account, whether you are paying down payment?
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CA Sadique

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CA Sadique (Querist)
16 December 2016 no downpayment. it is second hand property
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 December 2016 make an MOU between you and your brother.
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