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cash showing credit balance

Others 406 views 3 replies

mr a depoisit cash in the bank rs 20000/-

but dont show the source from where hi get this income

in this way he depoisit around cash of rs 750000/-  in year

but dont show from where hi get this income

result cash in the b/l showing credit balance 

 

my question is what he should do to show this cash as debit balance

option one increasing the sales or get the loan from other in cash

which is good and y

and allowable as per income tax

 

 

 

 

 

 


 

Replies (3)

loan from relatives parties in cash.........................

party or relative should not face problem by dipertment for giving loan

they also show form where they generate that much  money

ask the parties to show contra entries in their returns as loan to you. 

if they cant then this amount would be treated as "income from other sources" and taxable


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