Advantages & Disadvantages of Purchasing a New Bike of Rs.3.8L in Cash


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Hello experts

I want to buy a new bike 2016 yzf R3 in kolkata full in cash. As i am a student i dont have a income.. I do have a bank acc. My father works in a private sec. My father and mother both contributions and some of my savings. Together we can buy the bike. Means our money is ready. So what are the problems mainly Income tax dept. While purchasing the bike in cash and I Want that bike registration should be of my name whoever pays the money.
So please tell me what to do how to avoid such situations..
 
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plz reply experts waiting for your valuable comments[:)]
Its a battle of heart and brain. If your heart says then go for it. But if you look at the practical point of view I won't suggest you for a bike which cost well above 3 lacks, specially in hectic Kolkata traffic where I spent few years. Choice is yours. Anyway don't forget to share your purchase in this forum.

Rajib
 
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I asked a friend about this. He says that you can buy by cash but there is a chance of screening. If they decide to take your case, you'll have to show legal source to them. If your parents pay for it, then they will scrutinise their income to see if they can afford. It's better to buy with loan or you can have your parents pay legally, and register the bike in your name.

PS: He says to buy with loan and then pay it of in a month's time. You've to be careful on picking a loan that charges less penalty for ending it earlier.
 
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Hello experts

I want to buy a new bike 2016 yzf R3 in kolkata full in cash. As i am a student i dont have a income.. I do have a bank acc. My father works in a private sec. My father and mother both contributions and some of my savings. Together we can buy the bike. Means our money is ready. So what are the problems mainly Income tax dept. While purchasing the bike in cash and I Want that bike registration should be of my name whoever pays the money.
So please tell me what to do how to avoid such situations..
I completely agree with crazy cat. you stay in a metro and you want to buy a 300cc bike.

Here are my opnions:

Yamaha r3 does not make sense unless you go for a week end ride or a track day. Next bigger bikes are literally useless in stop go traffice and they make your legs a chicken tandori. this bikes are not apat from city commuting.

apart from loan repayement, you should be ready for expensive services nd one fall and the spare parts are expensive to replace.

I am not questioning your riding skills. you need to be experienced enough to handle the raw power on this bikes. upgrade to r3, only if you have rode a p220 or karizma.

car moves body, bike move soul- i understand the biker in you. You can consider either the duke 390 or RC 390. less expensive, compartively cheap to maintain and also you get ABS, slipper clutch.
 
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