Deposit above 10 lakhs in saving bank account in fy
This query is : Resolved
14 April 2018
RESPECTED SIR
DEPOSIT IN SEV BANK ACCOUNT ABOVE 10 LAKH AND GOT NOTICE FROM IT DEPT ASK TO FILE RETURN, SO HOW SHOW SAV AMOUNT SHOW TOTAL AMOUNT AS INCOME OR SALES TO COMPUTE TAX LIABILITY? PLEASE SIR ADVICE HOW TO FILE ......
DEPOSIT IN SEV BANK ACCOUNT ABOVE 10 LAKH AND GOT NOTICE FROM IT DEPT ASK TO FILE RETURN, SO HOW SHOW SAV AMOUNT SHOW TOTAL AMOUNT AS INCOME OR SALES TO COMPUTE TAX LIABILITY? PLEASE SIR ADVICE HOW TO FILE ......
Nikhil Kaushik
(Expert)
14 April 2018
you first need to know what is the actual source of this cash. If is revenue receipt, then yes it needs to be included in your income and offered to tax.
14 April 2018
RESPECTED SIR
THANKS FOR REPLIES TRANSACTION IN HIS BOOKS BUT MONEY BELONGS TO OTHERS FOR BUSINESS TRANSACTION. NOW IS HE NEED TO SHOW TOTAL TRANSACTION AS SALES OR INCOME HOW TO SOLVE PLEASE ADVICE THANKS.........
THANKS FOR REPLIES TRANSACTION IN HIS BOOKS BUT MONEY BELONGS TO OTHERS FOR BUSINESS TRANSACTION. NOW IS HE NEED TO SHOW TOTAL TRANSACTION AS SALES OR INCOME HOW TO SOLVE PLEASE ADVICE THANKS.........
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