Reply of scn
Querist : Anonymous
i received a SCN from income tax department.
fact of the case.
cash deposited in my personal account Rs 21,00,000/- department consider such amount as my income. but these amount is withdraw from my company account and deposited in my personal account and i make the expenditure on behalf of the company. is it liable to income in my hand. please suggest me. if there is any judgement regarding this issue please tell me.
thanks
Rahul Mishra
Further, you will also have to prove that you actually incurred expenses on behalf of the company out of the said amount.
In such a case the amount is not taxable in your hands.
Querist : Anonymous
Querist : Anonymous
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