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income tax proceedings

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 January 2011 In my book of accounts cash balances is very high because of not accounting suspense vouchers, is it posses problem for income tax proceedings ?
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
17 January 2011 Yes, Income tax office may ask the reason of keeping the cash in hand.

He may add cash in hand to your income and charge tax on that.

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