Loan of Rs18 lakhs given from my gst proprietorship firm
This query is : Resolved
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ARUN GUPTA
(Querist)
11 April 2024
I have given a loan of Rs1800000/ from my proprietorship firm to a individual and he returned back me Rs600000/ in may 2023.Now he is not returning balance money to me and denying me receipt of any money although all transactions are done through banking channels. How can I recover my money by informing income tax authorities? Please advise?
ARUN GUPTA
(Querist)
11 April 2024
Pl provide me a solution for this as party have shown payment to me by making payment to some other party.
CA R SEETHARAMAN
(Expert)
12 April 2024
File case in court of law.
ARUN GUPTA
(Querist)
12 April 2024
Will income tax department take any action?
CA R SEETHARAMAN
(Expert)
12 April 2024
Income tax department will not take any action.
ARUN GUPTA
(Querist)
12 April 2024
I have shown bad debts but party have shown payment to other person.so income tax may make case for concealment of income.
CA R SEETHARAMAN
(Expert)
12 April 2024
Income tax will not deal in such cases.
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