POSTED BY May 31, 2014 10:11 am COMMENTS (2)ON
I saw this article on moneycontrol.
Link Here: http://www.moneycontrol.com/news/tax/what-not-to-do2014-for-taxinvestment-planning_1028448.html
There a few points which i did not understand why the author has mentioned this, like :
10. Never ever think of taking cash loan of an amount exceeding Rs. 20,000 from anyone in the world or else be ready to pay the penalty equal to the loan amount.
11. Whatever be your urgency during the course of your business or profession but never ever think of making cash payment of more than Rs. 20,000 to one person or else your expense even genuine will be disallowed by the Tax Department.
13. Don’t think of making purchase of property more than Rs. 50 lakhs or else if you want to purchase the property more than Rs. 50 lakhs, be ready to deduct tax at source at the rate of 1 per cent.
Can anybody help in understanding this? A bit confused!