if a pvt ltd company is purchasing a second-hand used can in name of company from some individual, can we just make payment to the individual without any VAT/TDS etc ? Any other kind of tax will come here except road tax ?
What sort of receipt/documents for such deal ?
We are going to make payment to him via netbanking.
Regards,
Divya
VAT/TDS will not apply. Proof of document of title will be needed, and details of policy.
No other taxes involved. Documents like RC Book, Insurance, Purchase invoice should be there.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
