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Income tax query

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B.com
3024 Points Posted on 11 December 2020
one person cash deposit rs:12 lacs transactions during the f.y.19-20.
question:
Assess how to show it in I.t. returns 19-20.
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On 11 December 2020 at 22:52 Report
Replies (3)
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133 Points Posted on 12 December 2020
Income from other source
1 Reply
On 12 December 2020 at 00:26
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Tax consultant
5895 Points Posted on 12 December 2020
Is the amount shown in 26 as
reason of showing means for what things ??
as I don't know anything so suggesting
just keeping that value and others data you have to prepare his or her gross income and net profit and fill ITR
57 Reply
On 12 December 2020 at 00:30
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Profession Business
28207 Points Posted on 12 December 2020
If the person has income from business and profession then file returns

Rs.12 lacs deposited in a year is not the factor.
It is not violating Sec 194 N and Sec 269ST.
Have u deposited Rs. 20000 on a day.
If so the same has got to be reported in returns.
44 Reply
On 12 December 2020 at 09:48


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