Cash payments & penalties

This query is : Resolved

Ashwini (Querist)
Follow

08 January 2017 WHETHER ANY PENALTY IS LEVIABLE UNDER INCOME TAX ACT IF PURCHASE AMOUNT OF MORE THAN RS.20,000 IS PAID BY WAY OF CASH.

Sandeep Dharar (Expert)
Follow

09 January 2017 The Assessing Officer will add back the amount to ur income. Coz expenses above 20K is fully disallowed by Income Tax Act.

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

Unanswered Queries

view all classess