Hello Everyone,
Need clarification over transaction.
My cousin runs a Stamped paper business in a Chhattisgarh village, All the transaction he does is in cash he does not have current account. After the news of 500/1000rs, he deposited around 5L rupee in his saving account & 2.5 Laks in his wife`s saving account. All money is hard earned money and can show the details. Now he is worried about IT Department reaction.
Kindly let me know whether he should be worried or not ?
CAclubindia
