Forum Income-Tax Limit for capital introduced …

Limit for capital introduced in cash
Sundaraiah Kollipara
watch_later 12/03/21

Sir,

Any limit for capital introduced by cash in proprietary firm in it act.

1 Response | Latest response: 13/03/21 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
GST Payer
watch_later 13/03/21
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There is no limit.

However Income Tax department can ask for source of cash.

If cash is accounted and source is already reported in Income Tax returns then there is no issue in introducing cash in partnership firm by a partner.

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