Wii propreitor withdrawing cash above 20,000 disallowed?

Merina (Student) (310 Points)

04 June 2013  

Hi I am an auditing a propreitor ship . There is a propreitor (name) a/c under capital a/c. There are cases where money's above 20000 being deposited to his bank a/c. Will it attract 269SS and 269T of Income Tax Act as he is a propreitor and need not repay ?

Kindly clarify