Whether remuneration can be claimed as expense against unexplained moneys found during survey
Please cite case laws
Thank You.
Bhavik Damani
(Student)
(67 Points)
Replied 22 December 2010
your question is not clear. can you explain with illustration?
CA PARAS BAFNA
(Practising CA )
(33423 Points)
Replied 23 December 2010
If the income declared in survey which took place on 23-12-2010 and assessee declares Rs 5.00 lac income in respect to the FY 2010-11.
It is going to form part of the book profit and such in the return of AY 2011-12 remuneration can be claimed by complying the requisites of Section 40(b)(v)l
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