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allotment money

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(Querist)
28 April 2010 i hv recd allotment money worth rs 5 lacs in cash. do i accept it.
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CA Shiv

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CA Shiv (Expert)
28 April 2010 yes you can accept it and deposit in bank.... Atleast you will be safe....and get a document signed by the payer taking his PAN no. and name and address... in future it will be usefull or else it will be unexplained income....

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