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Bank statement income

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2016 If my freind deposited say Rs. 100000 to my personal account for his purpose , my doubt is am i liable to pay tax on that amount.
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CA Shyam Agarwal

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CA Shyam Agarwal (Expert)
26 March 2016 Your friend deposited cash Rs. 1 Lac in your personal a/c, its means u accepted cash deposit more than rs. 20000/- which is clear voilation of Sec 269SS. you may have face the penalty.

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