sir,
In the last month I made 10lakhs POS PURCHASE.
did this purchase can consider in income tax.
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POS PURCHASE
Replies (5)
if that is for business purpose, then yes.
this is (For personal pos purchase only)
not allowed
if I do more than 1crore pos purchase in a year with my bank account.
then
is there any tax on purchase amount.
it is completely personal only.
then
is there any tax on purchase amount.
it is completely personal only.
Sravan, there won't be any tax on your purchases if you would be able to subtantiate the source of funds used for the purchase.
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