Ravindra Parmar (5 Points)
20 November 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182355 Points)
Replied 20 November 2016
How you lived without any expenditures for last three years?
Ravindra Parmar
(5 Points)
Replied 20 November 2016
Sir as I am unmarried so it is not possible that my father bear all my expenditures except HRA?
aman singh
(CA )
(102 Points)
Replied 24 November 2016
yeah, U can deposit the amount in your account but you should be ready for the following questions:-
1. What is the source of those money ?
2. If your answer is salary and u have received ur salary other than cash, have u withdrwan so much amount from ur account which you are depositing now.
Ravindra Parmar
(5 Points)
Replied 24 November 2016
I had lent my money to few friends in the form of small amounts like 30k,50k in cash. Now they all are requesting me to take the money back in old currency.
I know there are many other way like they can deposit the money in their own account and deposit in my account by online banking but I just want to know whether this 3 lac will be consider as my income in this financial year and I have to pay tax on this or I can maintain not 11 but 8-9 lac any time by depositing more then 2.5 lac cash without paying any extra tax because I have already paid tax on that amount and I don't have any other assets on my name and if I have to pay tax again then it will be double taxation.
Thanks
Ravindra Parmar
(5 Points)
Replied 24 November 2016
I had lent my money to few friends in the form of small amounts like 30k,50k in cash. Now they all are requesting me to take the money back in old currency.
I know there are many other way like they can deposit the money in their own account and deposit in my account by online banking but I just want to know whether this 3 lac will be consider as my income in this financial year and I have to pay tax on this or I can maintain not 11 but 8-9 lac any time by depositing more then 2.5 lac cash without paying any extra tax because I have already paid tax on that amount and I don't have any other assets on my name and if I have to pay tax again then it will be double taxation.
Thanks
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
