Penalty consequences
This query is : Resolved
18 March 2014
What is the penalty if..
Loan amount included in turnover which is accepted n repaid through account payee cheque. ...
assessee is a company
18 March 2014
Before anything detected by the assessing officer the same is offered for tax then there is no penalty provided proper tax has been paid
18 March 2014
but how was the loan received? cash or cheque?
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