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Advance taken in Cash
Can a partnership firm take advance against sale of goods(Plot) in cash before 1-6-2015.
Replies (4)
Could have. As the amendments u/s 269SS & 269T has come into force from 1st of June, 2015.
Counter-check: The ITR for the PY not filed yet ! the firm not liable for tax audit for the PY !!!
Firm not liable to Tax Audit but ITR has been filed with in the due date.
It is counter-check:: Hope the cash receipt got reflected in filed ITR......... (any revision will create suspicion)
it is reflected in ITR also
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