What will do If the client received a High value transaction notice from Income Tax Department? My client deposits a 15laks.. actually it is loan money received from multiple loan providers as cash..s

Question

venkat · Answer

Actually I think you have to acknowledge that this transaction is actually present in the books and the event has occurred.

Dhivya · Answer

Thanks to you

Lalit · Answer

Ignore statement wala part

Lalit · Answer

Get a certificate from ca providing details of the person from whom money is received along with their pan, address, signature and copy of statement reflecting the amount received.......hope this will help

What will do If the client received a High value transaction notice from Income Tax Department? My client deposits a 15laks.. actually it is loan money received from multiple loan providers as cash..s

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