Planning for cash adjustment
This query is : Resolved
28 July 2011
My Client having total Prof receipts Rs. 16 Lacs. Total income truely decleared Rs. 965000/-. Tax adjusted with TDS and there is refund of Rs. 21500/-. 100% income through Bank. But there is cash expenses.
His cash balance now showing negative of Rs. 190000/-. His source of cash expenses is cash received from spouce. but he is not ready to show it as a gift or uncecured loan. There is no manipulation in accounts.
Please suggest me how I generate required cash so that no additional burden would arise and cash balance also be positive.
His cash balance now showing negative of Rs. 190000/-. His source of cash expenses is cash received from spouce. but he is not ready to show it as a gift or uncecured loan. There is no manipulation in accounts.
Please suggest me how I generate required cash so that no additional burden would arise and cash balance also be positive.
31 July 2011
The only option left here is show other income from which other expenses were done.
If you will not do it then the A.O. will surely do it.
But the best thing is to show it as a loan. If not from wife then show sundry loans below 20000 from a few persons.
If you will not do it then the A.O. will surely do it.
But the best thing is to show it as a loan. If not from wife then show sundry loans below 20000 from a few persons.
01 August 2011
Thanks sir, I have already applied this unsecured loan formula, but i want a new way becoz unsecured loan is very common today
Thanks again
Thanks again
01 August 2011
Well, it is common because it is the only way to do inside the law.
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