Please Help: deposited 20lakh cash in bank in single transaction but very few cash according to books
Posted Date : 17-Oct-2014 , 07:02:06 pm | Posted By Ashish
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
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
Category : Income Tax | Answers : 0 | Comments : 3 | Hits : 375
Answers
Comments
Tarun Goyal
19-Oct-2014 , 12:19:56 amU may show the same as loan from related party. But also remeber disclosure requirement of 269ss gets fulfilled. Tarun goyal, CA 9582460340
Ashish
20-Oct-2014 , 06:20:59 pmThanks Sir for your reply
Ashish
20-Oct-2014 , 06:23:24 pmBut Sir If the Relatives Does not has that much cash at that time then what to do.