- This topic has 6 replies, 2 voices, and was last updated 1 year, 3 months ago by
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UHi everyone,
I am in a pickle and would like your advise on the below matter.
Me and my wife have came across a used car and would like to buy it. If we buy the car through our employer (they allow buying only from a registered dealer and not through individuals),we save quite a bit on tax liability.
The interesting thing is this employer benefit starts from 1st week of May (cooling period after joining a new company). And the individual seller that we have found is not gonna wait until then.
So this is what we (seller, his used car dealer friend) came up with:
1. Pay upfront cash to the seller now
2. He will be signing the documents with the name field empty (don’t know which specific document he is referring. I believe the transfer documents) and hand it to me
3.Once the policy kicks in on May, I can start the buying process from my employer through the dealer and I should be getting the complete payment back which I had paid initially
This way we can still buy the car through company policy and we also don’t lose this specific car
Now because this involves alot of money (~20 lakhs), I would like to proceed very cautiously, leaving no loopholes behind.
Requesting all of you learned professionals to guide me on how to navigate this properly.
If you’re curious, I’m in Bengaluru. Any suggestion is appreciated.
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SBasically what you are trying to do is a fraud. If anything goes wrong, there will be no way to enforce your contract.
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SOkay, if this isn’t fraud, why don’t you disclose your elaborate plan to the company and ask them if they are okay with this?
The fact that you’re putting this post up here itself shows that your little scheme isn’t kosher.
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SExactly my point. Which you are trying to bypass by leaving information blank in documents.
So it’s both fraud and misrepresentation. -
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