Receive of an amount of rs 20000
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2012
Dear Sir
Whether i can receive an amount in cash more than Rs 20000? Whether it is taxable or not?
Whether i can receive an amount in cash more than Rs 20000? Whether it is taxable or not?
01 September 2012
Any income irrespective of the mode of payment, it will be taxable..
01 September 2012
income received in cash or kind or cheque or in any other form is taxable in the hands of the assessee.certain assessee are given basic exemption not to pay tax.
in your case i assume that it is a capital not revenue amount under section 269 ss of incometax act if an amount of loan or deposit is received more than Rs.20000/- other wise than by way of account payee cheque/draft penal provision of the act.
in your case i assume that it is a capital not revenue amount under section 269 ss of incometax act if an amount of loan or deposit is received more than Rs.20000/- other wise than by way of account payee cheque/draft penal provision of the act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
