loan receives from fictitious person less than 20000 how to deal with that
3 Replies
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 05 September 2011
Paid cash and account balance will be NIL. ( no need to disclose in 269SS)
naman modi
(Article)
(111 Points)
Replied 05 September 2011
no need to take confirmation for the tax audit
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 05 September 2011
if such balances would appear in balance sheet then confirmation and 269SS would apply,
better to put such amounts in "advance from customers"
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