TAX CONSEQUENCE
This query is : Resolved
17 December 2008
whether a salaried person give a loan in cash above rs 20000
is their any consequence\contravention of any provision of I.T ACT
is their any consequence\contravention of any provision of I.T ACT
18 December 2008
In the given situation no consequence/contravention arises to the payer.
19 December 2008
thanku sir,
if i earn any income from this fall income from other source ?
if i do the same trasction again and again then whthr it cover in business?
if i earn any income from this fall income from other source ?
if i do the same trasction again and again then whthr it cover in business?
CA Sanjeev Kr Jain
(Expert)
21 December 2008
in any case if loan is advanced by any one in case than there is no penalty
31 December 2008
we started business on 23-1-08
before that what ever expenditure i incurred should be captalized .
can u tell me what entry in a/c we should pass to make captalize
and
aftr we started business on trial basis so i in curred expenditure of around 5 lac where should i charged this expenditure
before that what ever expenditure i incurred should be captalized .
can u tell me what entry in a/c we should pass to make captalize
and
aftr we started business on trial basis so i in curred expenditure of around 5 lac where should i charged this expenditure
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