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Issue ID : 108864
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CASH DEPOSIT

Date 08 Jul 2015
Replies0 Answers
Views 871 Views

One of my friends has borrowed loan of ₹ 8 Lakhs for construction

purpose. The amount was paid to him by a contractor in cash.

He deposited the amount in Bank and using for his needs as

and when necessary. Now a question has arisen whether

this amount is questionable by I.T. authorities at a later date

since cash is deposited in Bank ?

Income Tax
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