Repayment of advance given
This query is : Resolved
27 July 2020
A firm (Agro feed) has given advance of Rs. 1.50 Lac to one party and received cash later on at different dates saying that the party did not delivered the material.
Is it permisssible under the income tax act?
Plz guide .
Is it permisssible under the income tax act?
Plz guide .
09 August 2020
Yes....the limit of 10K should be taken care of when repaying loans....
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