Tax audit
Querist : Anonymous
Example:
No opening Balance
19 April Paid to Mr. X Rs 225000/-
07 June Paid To Mr. X Rs 25000/-
15 Oct Received from Mr. X Rs 1500000/-
02 Dec Paid to Mr. X Rs 500000/-
31 Dec Interest paid to Mr. X Rs 15000/- (assumed).
What will be it's treatment ??
only amount recd rs. 1500000/- u/s 269SS
payment 750000/- u/s 269T
wil report in form 3CD by auditor if your turnover will eligible for audit u/s 44AB.
Querist : Anonymous
IT MEANS ITS DOES'NT MATTER WHETHER AMOUNT PAID EARLIER AND RECEIVED AFTERWARDS OR VICE VERSA......
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