Advance against sale in cash
This query is : Resolved
Querist : Anonymous
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
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".
Courtesy :- ICAI publication, "Guidance note on tax audit u/s 44AB of the IT Act,1961".
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 October 2011
thanks very much for solving the query
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