Buying new car

Rajendra Kumar (Training ) (23 Points)

25 May 2023  

1. I have to buy a car and want to buy one in my wife’s name who is a housewife. Would there be any problem?

2. Car value would be around 25 Lakh

3. Is there any problem if I pay from my saving (by cheque or account-to-account transfer to car dealer) and do not take any car loan?

I am a service class person and all money is my saving. Please suggest so that no Income Tax surprise notice I get in the future.

Thank you in advance.