Cashdeposits exceeds rs1800000
This query is : Resolved
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)
(Expert)
30 April 2015
Whats this ??
How can u increase sales ..
Sale in cash in this huge amount ??
what about Vat liability
How can u increase sales ..
Sale in cash in this huge amount ??
what about Vat liability
CA Deepesh Ruhela
(Expert)
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
