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Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2011 is advance payment of50000 in cash receipt for sale of goods attract section 269SS/269T of Income Tax Act?

CA MANOJ GUPTA (Expert)
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11 June 2011 NO THE TRANSACTION IS OUT OF THE SECTION 269SS?269T PURVIEW

CA MANOJ GUPTA
JODHPUR
09828510543

Rakesh Jain (Expert)
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11 June 2011 Dear Manoj,

I have doubt so please brief the reasons for which said transaction is out of purview.

With regards,

CA MANOJ GUPTA (Expert)
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11 June 2011 this is as per ICAI clarification
see Guidance Note on tax audit issued by ICAI

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