I-T Lens on Art Bought by Cos

The Economic Times - - Front Page -

A re­cent tweak in tax rules may worry art buy­ers. From the next fi­nan­cial year, ex­pen­sive paint­ings, an­tique jew­ellery, vin­tage cars, real es­tate or any other art bought by com­pa­nies will face I-T scru­tiny and tax will be de­manded if real price or fair value has not been paid on that, re­ports Sachin Dave.

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