fund transfer

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2010 I have got an offer from one party wherein i have to deposit/tranfer Rs. 1 crore to his account he will pay the cash advance then only i have to transfer this amount, he will pay then 16,00,000//
please clarify whether it is lawful or can we make this transfaction
please clarify

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2010 i think account is from foreign

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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20 December 2010 as transfer is Undisclosed For What This Transfer Made & Accordingly This will Be Treated as Undisclosed Income & same will be Charged to IT.

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