Cashdeposits exceeds rs1800000
This query is : Resolved
30 April 2015
sir my clients has been deposited cash in fy 2014-2015 Rs 1800000 in saving bank account i can increase sales Rs 1800000 pay tax Rs 5000 to avoide scutiny.
30 April 2015
Whats this ??
How can u increase sales ..
Sale in cash in this huge amount ??
what about Vat liability
How can u increase sales ..
Sale in cash in this huge amount ??
what about Vat liability
30 April 2015
Agree with CA Ankit Bohra.
You can't ignore not only VAT, service tax or excise as the case may be.
You can't avoid scrutiny. The Bank has required to furnish AIR(Annual Information Return) to the deptt. for those Cash deposits aggregating to 10 lakh rupees or more in a year in any savings account of a person maintained in that bank.
You can't ignore not only VAT, service tax or excise as the case may be.
You can't avoid scrutiny. The Bank has required to furnish AIR(Annual Information Return) to the deptt. for those Cash deposits aggregating to 10 lakh rupees or more in a year in any savings account of a person maintained in that bank.
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