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Income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2018 Dear,

I am a fruit dealer, I received all my sale receipt through cheque. what i does , i withdraw all my sale receipt through bank through a bearer cheque in the name of my brother and pay the cash to agriculturist.

whether i have to show any amount remaining in the name of my brother in my balance sheet.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 August 2018 Yes you have to show

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2018 sir i used the amount for my business purpose but i withdraw money through bearer cheque in the name of my brother can i show money withdrawn in my name i.e my brother gave me money cash for business purpose

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