watch_later 28/12/20

A business person purchases of site valure Rs:22 lacs.but cash on hand avalible balance Rs:15 lacs show in books as on site purchases date.

cash balance difference Rs:7 lacs adjustment options mentioned below. loan received from different persons(rs:20,000*35 members) sales increased in books. gifts received from realitives .


a person above mentioned three  options  correct method allowed in i.t.act.



1 Response | Latest response: 21/01/21 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 21/01/21

You may use following ways-

1. cut or reduce cash expenses/purchase early date - 30%

2. take unsecured loans from relatives or friends - 40%

3. increase cash sales - 30% 



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