Hello.
what happens (in the current money scenario), if a person has about 1 Crore in cash and deposits it in his bank and declares it as income for AY 2016-17, but can not explain the source ? Is 270A attracted? What are other implications ?
Menu
Unexplainable source of income
Replies (1)
As per some professionals, don't declare as per slab rate, but u/s.115bbe, ie. pay 30% tax + surchage. Section 270A doesn't trigger.
Recent Threads
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
Related Threads
CAclubindia
