introduction in capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2011
i want to know can proprietor introduce rs 350000 in capital account in cash whose books of accounts are required to audited u/s 44AB.
07 June 2011
Yes receipt of Rs 350000 in cash for capital a/c from the proprietor is allowed and does not pose any difficulty as far as tax audit or other provisions of ITax are concerned.
08 June 2011
PLEASE TAKE CARE THAT U HAVE EXPLANATION ABOUT THE SOURCE OF MONEY
THE AO MAY INQUIRE AS TO SOURCE OF CAPITAL SO INTRODUCED
CA MANOJ GUPTA
JODHPUR
09828510543
THE AO MAY INQUIRE AS TO SOURCE OF CAPITAL SO INTRODUCED
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
