Income tax
This query is : Resolved
Anant Bawkar
(Querist)
08 November 2012
if one bank account is not reflected in balance sheet and balance sheet is finalised. what to do about that missed account.there is any penalty for it.
CA Ayush Agarwal
(Expert)
08 November 2012
Well, as Per IT Act, If You Included All Income Related to That bank Account, Then Its ok, Otherwise Change ROI.
CA Ayush Agarwal
(Expert)
08 November 2012
Apart From This, If There is any cash transaction in bank Account, That you are suppose to hide from AO, then also it will make trouble for you, better to go for revision.
Anant Bawkar
(Querist)
08 November 2012
Resp. sir,
If there is only cheques received as advance and cash withdrawal and which is not reflected at the time of finalisation of account then what will be tax liability, there is no sale or purchase related transactions
Regards
Anant
If there is only cheques received as advance and cash withdrawal and which is not reflected at the time of finalisation of account then what will be tax liability, there is no sale or purchase related transactions
Regards
Anant
CA Ayush Agarwal
(Expert)
08 November 2012
Cheque Received Against ?
To be Show Under 269SS of Income tax Act Audit.
To be Show Under 269SS of Income tax Act Audit.
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