Explain clearly - can i show this in my revised Income Tax Return ?
4 years ago
I gave a loan of more than 20000 rupees to an individual in the month of april 2018 in the form of cash. Now, the borrower doesn't want to repay the loan amount. Giving loan as cash of more than 20000 rupees is illegal in india. Can i show this loan in my revised income tax return before this 30th june ? What legal action will be taken against me for giving this type of loan by court or by income tax department and how much penalty ?
A.Dear Sir,
No institution take suo moto action against you unless some body complains. Rs.20k is negligible amount and you contact the Chartered Account to get exact procedure.
Please give me Rank 5 and Review my Resume and Follow Me.
No institution take suo moto action against you unless some body complains. Rs.20k is negligible amount and you contact the Chartered Account to get exact procedure.
Please give me Rank 5 and Review my Resume and Follow Me.
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