Advance against sale in cash
Querist : Anonymous
Whether "advance against sale" received in CASH does fall under sec. 269 SS of IT Act?
Please guide
Querist : Anonymous
Advance received against agreement of sale of goods is not a loan or deposit with in the ambit of section 269SS.
Courtesy :- ICAI publication, "Guidance note on tax audit u/s 44AB of the IT Act,1961".
Click here to login now
Similar Resolved Queries
- Sales of goods of amount Rs77 lakhs to a party
- ITR WITH 0 TURNOVER
- Query related to CA/CS/CMA Firm
- Automatic MIS from Tally ERP
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- Schedule Dpm under 44ada no account casr
- How to pay tds on mhada property
- TDS short payment of Rs 120 — how to adjust in new TRACES
- ITR-3 - How to show loss in 65(i) - (iii) under under Part A - P & L section and sub section 65?
- Value of Perquisite Tax Borne by Employer
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
