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Cash deposit in bank

313 views 2 replies

CS Abhijeet soni Advocate

CS LLB MCOM MBA (FINANCE) MPHIL CA INTE

931 Points Joined July 2009

hi experts

greetings

my query is that there is a salary person and he also earn outsourses and that amount he deposited in to bank as cash now when i checked his bank statement then app.400000/- deposited as salary from his company and other 250000/- in full year he has also deposited in the bank so tell me how much income he should take for the tax calculation .

thanks

Replies (2)

Guest

you should ask him for the source of Rs 250000/- deposited. depending on his answer tax should be calculated.(for eg if it is commission income/ professional income/ sale of asset/gift from relative etc) In each case, the tax treatment will be different.

CS Abhijeet soni Advocate

CS LLB MCOM MBA (FINANCE) MPHIL CA INTE

931 Points Joined July 2009

respected Madhavi jee , the sources of 250000/- is tuition given by him but he is govt employee and he can nt give tuitions also he wants to give less tax so wht should we do. waiting reply thanks and regards