Effect of 269 ss & st ??
This query is : Resolved
15 September 2012
dear experts,
in my business due to cash deficit, i've received cash from my father's HUF a/c rs.19000 * 6 days (total receipt rs.114000)
And 3 months later i repaid rs.114000 in 6 days.( rs.19000 each day) what will be the effect for this. pls clarify
in my business due to cash deficit, i've received cash from my father's HUF a/c rs.19000 * 6 days (total receipt rs.114000)
And 3 months later i repaid rs.114000 in 6 days.( rs.19000 each day) what will be the effect for this. pls clarify
15 September 2012
No Where Issue Arise.
If Tax Audit is Applicable to Your Prop. Firm (Not Company), Then Only Section 29SS Attract When Cash Taken in Exceed 20k.
If Tax Audit is Applicable to Your Prop. Firm (Not Company), Then Only Section 29SS Attract When Cash Taken in Exceed 20k.
15 September 2012
yes sir, mine is a 44 AB case. in that scenario will 269 SS attracts?
15 September 2012
Yes, In This Case 269ss Get Attract.
15 September 2012
Section 269SS attracts even if the outstanding balance exceeds Rs. 20000.
Accordingly, section 269SS will get attracted.
Accordingly, section 269SS will get attracted.
15 September 2012
Section 269SS has nothing to do with tax audit u/s 44AB
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