Security refund of shop
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2017
sir
i m running my business in a rented shop which i took 10 yrs back . that time i gave 2.20 lacs as security to the owner by cash which have no paper record. now i want to vacate the shop but the owner of the shop told me that he will refund shop security by cheque.my query is
this amt will be taxable or not ? how can i justify to tax dept.? please guide me.
can i ask owner to mention shop security refund on the backside of cheque .? this line solve the purpose?
i m running my business in a rented shop which i took 10 yrs back . that time i gave 2.20 lacs as security to the owner by cash which have no paper record. now i want to vacate the shop but the owner of the shop told me that he will refund shop security by cheque.my query is
this amt will be taxable or not ? how can i justify to tax dept.? please guide me.
can i ask owner to mention shop security refund on the backside of cheque .? this line solve the purpose?
02 December 2017
Yes this line or a cheque covering letter will solve the purpose. The amount is not taxable.
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