TAX AUDIT
This query is : Resolved
jay arya.........
(Querist)
21 January 2010
HELLO SIR,
PLZ TELL ME THAT Ram (Individulas ) give loan to his friends shyam for Rs. 1,50,000 & he is covered under tax audit is it a matter of tax audit or not , if yes How i can show in 3cd
thanks
HELLO SIR,
PLZ TELL ME THAT Ram (Individulas ) give loan to his friends shyam for Rs. 1,50,000 & he is covered under tax audit is it a matter of tax audit or not , if yes How i can show in 3cd
thanks
21 January 2010
In form no.3CD disclosure u/s.269SS and 269ST for acceptance and repayment should be given. However no disclosure for loan given by assessee is necessary
Aditya Maheshwari
(Expert)
21 January 2010
yes. the above is correct. if you need some documentation for audit then you can take confirmation of loan
CA Ravi Sisodia
(Expert)
21 January 2010
Agree
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