dear learned friends
please let me know the best way to approch the following situation
1, there is an increase in the paid up capital of a company to the tune of 2 crores in the books
2, the source available from the personal income of the directors are available to the tune of 1.5 cr.
3, balance 0.5 crore has to be arranged from some source.
4, a survey has been conducted and the dept askes for the source for the increase in sh cap.
which will be the best option
1. offer an additional 0.5 crores as additional income in the individual assessements of the directors,
2. leave it as unexplained investments
regards
karthi
CAclubindia
