19 April 2022
In B/S of Prop. some amount of creditors was unclaimed for many years. and the same was added to capital account of prop. What will be effect on assessment in incometax. Can ITO charge tax. and further consequences,? Opinion sought
24 May 2022
Thanks a lot sir, but I want to clear the concept > what will be scenario if unclaimed creditors added in income by assessee in ITR and tax paid on regular rates as per slabs. (Not higher rate of tax).
CAclubindia
