Cash sales

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If a company is having cash sales amounting 25-30k in each sale and monthly cash sales in excess of 10 lac, is it mandatory for us to ask our customers for their Pan Numbers. We pay our sales taxes every month and mention it in our ITR and pay our taxes accordingly. Can we face any action if we deposit cash in our current account in access of 10 Lacs?
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"If the money is legitimate which had been previously withdrawn from bank or earned legally and saved and had been disclosed, there is nothing to worry about," The Finance Minister further said that housewives, small traders and farmers with genuine savings need not worry about depositing cash in their bank accounts.

Dhirajlal Rambhia ji .... i sold agriculture waste like bhoosa   to moortikar who make ganesh ji durga ji moorti during seasons this work was totally without bill .... how can i justify this income ???

 

 

ITO will ask for justifying evidence for any such transaction. One cannnot earn by selling AIR. Any sort of purchase, sales, bank transactions, licenses, your vocational ability, your ealier ITRs..........

How suddendly income arised after this tsunami?

respected sir .... i am filing my return since 5 years last fiscal 2014-2015 i didnt file my return ... cant i show it in my last year return ??? and agri waste that i sold to moortikar ( statue maker ) has now gone to their respective places ... i sold those items when they were in city ... now i have no connection with them ? my income from agri waste was 50,000 apart from other income ... 

 

What is the balance amount you want to disclose as on today?


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