Hi
Scrutiny Case
cash deposited in saving bank a/c Rs.20 L
Same invested in shares and loss on investment Rs.21L
my questions are
1)can I show Rs.20L as undisclosed income and take set off STCL Rs.21L
2)if yes, will I have to pay any penalty ?
3)if no,then what to do ?
Yes you can disclose the income and can take sett off of STCL .
Thanx !
Varma Raja & Associates
Thrissur
CA Inter
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