Advance against sale in cash

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 October 2011 Dear experts

Whether "advance against sale" received in CASH does fall under sec. 269 SS of IT Act?

Please guide

06 October 2011 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".

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 October 2011 thanks very much for solving the query


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