DEAR SIR,
IF A PERSON CASH DEPOSIT ON NOVEMBER 2016, THERE IS NO DEBTORS/CASH BALANCE IN PREVIOUS YEAR, WHAT IS THE SOLUTION IN CURRENT YEAR. 2016-17?
DEAR SIR,
IF A PERSON CASH DEPOSIT ON NOVEMBER 2016, THERE IS NO DEBTORS/CASH BALANCE IN PREVIOUS YEAR, WHAT IS THE SOLUTION IN CURRENT YEAR. 2016-17?
Difficult to get through scrutiny....... but try to justify as business income of previous six/seven months, along with some cash loans of relatives !!!
DURING THE FIN.YEAR WE OFFER AS REGULAR INCOME 4 LAKHS, AND LOANS FROM RELATIVES AND FRIENDS 5 LAKHS.RIGHT SIR? BUT IF SCRUTINY NEED TO PROVE ....
Yes, justification at every step is needed.... like loan confirmations, capacity of loaner etc......
Business income could have been higher......
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
