Bank transactions is more than one crore
This query is : Resolved
07 May 2019
Sir/ Madam,
My GST sales is Twenty Six Lakhs but my Bank transactions is more than One Crore how to show the balance of bank transactions in my Income Tax Returns for the year of 2018-19.
My GST sales is Twenty Six Lakhs but my Bank transactions is more than One Crore how to show the balance of bank transactions in my Income Tax Returns for the year of 2018-19.
08 May 2019
You have to have proper justification for balance appearing in bank account.
08 May 2019
You should prepare your accounts and see if the transactions are related to your business receipts/turnover or of personal nature i.e. transactions within your own bank accounts.
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