Capital intro

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2011 My client have a business of three year old, her age is 45 year, retail counter, sale is 2 crore, has deposited cash in her saving account Rs.100000 lac on 4/9/09 and transferd it by ch in her capital account .

The ITO raised a question on it , I reply that she save some of from Drawing and some traditional gifts like holi, diwali, marrige, rakhi she recived from family.
But ITO does not agree if I am right or not.
pls tell

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

29 August 2011 The reasons cited by you are flimsy. Assessing authority will not accept such explanations for want of documentary proof.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2011 Sir tell me pls if she have retail couner and there is only cash sale she have , only cash she withdrawal from her capital account for home needs,it is not necessary if she could spent all money , she can save or not, We recive caash gifts or not pls tell me

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

T.N.Reddy

Sreekumar J Pai

asmita gupta

Keshav Dubey

kambamcr@gmail.com

Subscribe Now

Capital intro

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

CA Final