Hi there, one of my friend asked me this question, what is more dificult- to show the expenditures or where money came from to income tax department.
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What is more difficult, to show the expenditures or incomn.
Replies (2)
I think you are referring to cash business.in my opinion Income is tough. Coz expenses can be estimated in some case and actuals are normally available.If any specific query , please interrogate so that it adds to the knowledge base of readers through replies by other fellow members.
Ziya
showing of expenditure is more difficult because you need to prove genuineness of exp. to AO.
the onus is on the assess to prove.
in case of income no need to prove to AO
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