In case of individual TAX AUDIT, Unsecured Loan of ₹ 5 lacs is converted into GIFT. Where should we report this transaction in Tax AUDIT report 3CB 3CD. Gift is u/s 56(2) i.e., from the relatives.
In case of individual TAX AUDIT, Unsecured Loan of ₹ 5 lacs is converted into GIFT. Where should we report this transaction in Tax AUDIT report 3CB 3CD. Gift is u/s 56(2) i.e., from the relatives.
Rahul Dang & Associates-Chartered Accountants
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Sri Aurobindo Gnostic Centre of Education
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