Sinto Antony (Analyst) (21 Points)
15 November 2016Hi,
Imagine for X amount ITR been filed & taxes being paid over 3 years of time. And if that X amount being deposited in cash will it attract black money charges?
Puja Prasad
(Semi-Qualified CA & Student)
(336 Points)
Replied 19 November 2016
In my opinion, if that 'x' amount is appearing in your Balance Sheet and you are able to substantiate the same before IT Dept. then no penalty for black money shall be levied.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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