Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Salaried person and i have a income tax query

Save Share

This query is : Resolved

Gaurav Agrawal (Querist)

18 July 2013 I am a salaried person. One of my friend deposit some money through online transaction. Suppose in my office one friend take 50000/- cash from me and after 2 months he deposits 50000/- into my account by using online transaction from his account.
Now my query is that is this 50000/- is assume my income in income tax or not?
Is this 50000/- assume my extra income in income tax or not?
If this transaction is made by my brother then in that case it also known as my income in income tax?
I am too much confused about that...
Please let me know ASAP....

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

18 July 2013 If he can transfer online to you, you can also do so.
.
Tell your friend to withdraw cash from his account and give it back to you.
.
You need to say that your friend has given the amount as a loan , so you have repaid back.
.
Do not discuss cash loans with anybody.
.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now