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Unexplained money deposited in bank
Whether all the cash deposits will be treated as income or only peak cash deposits?
Replies (3)
only peak deposit which are in substantial amount will br considered further .
May U please let me know how it is found in the bank account
peak credit is applicable if you able to correlate the previous withdrawals with the subsequent deposits or else the unexplained deposits will be charged to tax under section 68
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