banner_ad

Cash transactions 2016

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 June 2019 DEAR EXPERTS,
ONE OF MY FRIEND HAD RECEIVED AN INTIMATION FROM THE "IT DEPT" REGARDING THE CASH DEPOSITS MADE AT THE TIME OF DEMONETISATION AND HE HAD ALSO NOT FILED HIS RETURNS DURING THAT AY.. NOW AFTER THE ISSUANCE OF NOTICE FROM "IT DEPARTMENT" HE HAD FILED HIS IT UNDER 44 AD... NOW WITH REGARDING TO THE NOTICE:
1) SHOULD HE RESPOND EACH TRANSACTION EXPLANATION LIKE SUBMITTING HIS BANK BOOK LEDGER (OR)
2) JUST REPLY THAT THE AMOUNT CREDITED ARE THE AMOUNT RECEIVED FROM MY DEBTORS AND I HAVE OFFERED ALL SUCH INCOME TO TAX???
WHICH OF THE ABOVE OPTION IS SUITABLE AND WONT CAUSE ANY FURTHER PROBLEM ??
IF THERE IS ANY OTHER TYPE OF RESPONSE PLEASE KINDLY LET ME KNOW...
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
10 June 2019 what is the reality in depositing the cash?
Profile Image

Nithija

Profile Image

Nithija (Querist)
10 June 2019 AMOUNT RECEIVED FROM SUNDRY DEBTORS
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
12 June 2019 then you can tell the same to income tax department. Be ready to disclose the names along with PAN of those sundry debtors.
Profile Image

Nithija

Profile Image

Nithija (Querist)
12 June 2019 THANKS FOR THE REPLY SIR
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
12 June 2019 you are most welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details