Capital asset

182 views 4 replies

Rahul

102 Points Joined March 2016

I have a query.I m gonna start a new business in which initial investment to buy capital asset is around 4.5lacs. Please help me in letting me know below queries :

1. How much amount we should pay in cash and in cheque so that tax impact will be less.

2. What if a person don't have adequate funds in his bank account however, he can arrange whole funds in cash. But as per new rule of income tax we can not spend over 2lacs in cash. How can we make a payment to the dealer of capital asset?

Please advice.

Replies (4)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208770 Points Joined July 2016

1. There is no tax saving in investment of capital assets. Can give everything by cheque.

2. You cannot take/repay cash loan above 20000 Rs. from any single individual/entity; so think beforehand.

Rahul

102 Points Joined March 2016

Thank you sir for the reply, however, we didn't get your second point, so please elaborate this.

Sir can't we take a loan from bank for that asset?.. Coz we can't make a whole payment in cash & from bank. We have some amount in hand as well as in bank. What will be the limit if we pay whole amount