Purchasing car in cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 August 2014
Dear all, My friend is a salaried person. He needs to buy a car out of his savings. The total cost is Rs. 500000 (approx) he has Rs. 250000 as savings and the balance his brother would share. His brother is also a salaried employee and A NRI for this particular FY. CAn anyone please help me with any tax implication, if any. Like would it be like coming into IT's knowledge,etc. or he can use his savings the way one want. ?
13 August 2014
the source of savings can be questioned.
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