Dpt-3
This query is : Resolved
CA Kamlesh Kukreja
(Querist)
12 May 2019
If we have received Advance From Party For Sale of Goods of Rs:-1,00,000/- however goods are sold to him of Only Rs:-80,000/-, So Rs:-20,000/- are refundable to Him. however he didnot come for 6 month to claim refund.
As per Banning-of-Unregulated-Deposit-Schemes-Ordinance-2019 Rs:-20,000/- will be considered as deposit. so do we have to report such transactions in DPT-3 form
As per Banning-of-Unregulated-Deposit-Schemes-Ordinance-2019 Rs:-20,000/- will be considered as deposit. so do we have to report such transactions in DPT-3 form
CA Mayur Todmal
(Expert)
13 May 2019
Trade advance is not deposit , provided same is appropriated in books within 365 days of receipt of the advances
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