Cashdeposits exceeds rs1800000

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alpesh (Querist)
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30 April 2015 sir my clients has been deposited cash in fy 2014-2015 Rs 1800000 in saving bank account i can increase sales Rs 1800000 pay tax Rs 5000 to avoide scutiny.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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30 April 2015 Whats this ??

How can u increase sales ..

Sale in cash in this huge amount ??

what about Vat liability

CA Deepesh Ruhela

CA Deepesh Ruhela (Expert)
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30 April 2015 Agree with CA Ankit Bohra.

You can't ignore not only VAT, service tax or excise as the case may be.

You can't avoid scrutiny. The Bank has required to furnish AIR(Annual Information Return) to the deptt. for those Cash deposits aggregating to 10 lakh rupees or more in a year in any savings account of a person maintained in that bank.

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