07 June 2011
Yes receipt of Rs 350000 in cash for capital a/c from the proprietor is allowed and does not pose any difficulty as far as tax audit or other provisions of ITax are concerned.
08 June 2011
PLEASE TAKE CARE THAT U HAVE EXPLANATION ABOUT THE SOURCE OF MONEY THE AO MAY INQUIRE AS TO SOURCE OF CAPITAL SO INTRODUCED CA MANOJ GUPTA JODHPUR 09828510543
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