269 ss
This query is : Resolved
08 February 2013
Dear experts,
I need cash in my a/c approx 10 lakhs to buy an asset. Can i credit rs.49000 in different names? Or will this be attracted u/s 269 ss? Pls guide
I need cash in my a/c approx 10 lakhs to buy an asset. Can i credit rs.49000 in different names? Or will this be attracted u/s 269 ss? Pls guide
08 February 2013
Do you have Rs 10.00 Lakh !
.
First, ascertain the source from where you have received the amount !
.
It is possible that the money may be of your own !!!!
.
And in such a case- you may not be required
to credit the full amount in the name of X, Y or Z.
.
Section 269SS has been implemented specifically to avoid acceptance of such (False) Cash deposits and loans.
.
It will be attracted.
.
.
First, ascertain the source from where you have received the amount !
.
It is possible that the money may be of your own !!!!
.
And in such a case- you may not be required
to credit the full amount in the name of X, Y or Z.
.
Section 269SS has been implemented specifically to avoid acceptance of such (False) Cash deposits and loans.
.
It will be attracted.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- EPF FULL & FINAL RULES IN 2026
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Eway bill generation from place other than registeted
- FTS Taxable under 115A
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
