Student
24 Points
Joined November 2008
Dear Experts,
I have never filed my ITR and do not prepare books of accounts. An amount of Rs. 99,000 was due to be paid to my father by a company. My father told the company to transfer the amount to my bank a/c. The amount was transferred to my bank a/c through NEFT and I withdraw the whole amount in cash and hand it over to my father. How should I show this amount in my books? Will it be treated as income in my hands?
Please reply soon.
Thanking You