23 August 2016
Dear sir, I am a salaried employee, Take home salary 120000 PM. Four years back i invested 100000 Rs in my uncle's buisness as partner (Nothing on Paper).I am even paying a staff 10000 rs pm. All these transaction were done from bank using netbanking.Now My share of profit around 3 lacks is supposed to come. Can i accept this money in my bank account by netbanking from my uncle without violating any IT norms. Or Please suggest any other way...
CAclubindia
