Merina (Student) (310 Points)
04 June 2013Hi I am an auditing a propreitor ship . There is a propreitor (name) a/c under capital a/c. There are cases where money's above 20000 being deposited to his bank a/c. Will it attract 269SS and 269T of Income Tax Act as he is a propreitor and need not repay ?
Kindly clarify
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 04 June 2013
It is simple capital introduction or withdrawal if transactions occurred from the business. No need to invoke 269SS and 269T
Naga lakshmi
(Student CA IPC / IPCC)
(21 Points)
Replied 02 February 2015
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