Regular assessment u/s 143 (1)
This query is : Resolved
28 September 2011
Dear Seniors,
Please suggest me a justify answer for below question asked by DCIT:
"To explain the source of deposit of Advance Tax"
Thanks in advance..
Please suggest me a justify answer for below question asked by DCIT:
"To explain the source of deposit of Advance Tax"
Thanks in advance..
28 September 2011
Assessing authorities can call for source of payments. Then it is the duty of the assessee to prove the same since "onus of proof rest with the assessee's". Thus the assessee has to ,necessarily, show either the direct source ( entries in bank account etc...)or through cash book / cash statement to substantiate that sufficient cash was available to meet the advance tax payment.
28 September 2011
Thanks a lot sir.
Also, Please tell a written reply for the same....
Thanks in advance.
Also, Please tell a written reply for the same....
Thanks in advance.
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