18 October 2018
My friend get a notice u/s 142(1) for A.Y. 2016-17 to provide Trading ,P&L, BS, Bank Statement and capital account....he is filled itr for the same year u/s 44AD for declaring sales of around Rs. 42 Lac but in bank statement cash is deposited around Rs. 84 Lac. Please rply
18 October 2018
You have declared a sales of 42 lacs but how cash of 84 lacs deposited. This will be the main question. Suppression of turnover. No need to provide p&l and balance sheet. Only bank statement has to be furnished.
18 October 2018
this is due to only one bank statement is considered at the time of return filling....in 3 bank statements total around 84 Lac deposit showing....how i further process...can i show total deposit as a sales or other option is available....thank you
CAclubindia
