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Q. > Please Help: deposited 20lakh cash in bank in single transaction but very few cash according to books
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390 views • Question added Oct 17, 2014 • Income Tax • By Ashish , Rewari


my client has deposited 20 lakh cash in his bank A/c by a single Transaction,
But As Per his Books he was not having so much cash as per his books of accounts
Please tell me how to tackle it
Till now the client has not filed IT return in which he deposited cash

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Tarun Goyal

19-Oct-2014 , 12:19:56 am

U may show the same as loan from related party. But also remeber disclosure requirement of 269ss gets fulfilled. Tarun goyal, CA 9582460340

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Ashish

20-Oct-2014 , 06:20:59 pm

Thanks Sir for your reply

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Ashish

20-Oct-2014 , 06:23:24 pm

But Sir If the Relatives Does not has that much cash at that time then what to do.

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