Relating to direct deposit of cash in sb a/c
This query is : Resolved
25 July 2011
i have recently come across a query that if an individual has been receiving direct deposit from other person (india & overseas)in his Savings bank a/c and that person transfers the same money to some other person in short (Hawaala) then on what income will he be assessed u/s 143(1)ie IT ACT, notice?
25 July 2011
At least peak credit will be assessed in the hands of that individual as his / her income.
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