Can cost of improvement be in cash?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Can cost of improvement be in cash?
Query (Issue) Started By: - AMEY SHARMA Dated:- 4-12-2019 Last Reply Date:- 22-2-2020 Income Tax
Got 1 Reply
Income Tax
I've done expenses such as .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... fencing, lighting, and various other expenses amounting to say ₹ 3 lac all in raw cash? is any disallowance or penalty initiated? Note: when i sale property capital gain tax is attracted meaning .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... it was not my business expenditure Reply By DEV KUMAR KOTHARI: The Reply: Can cost of improvement be in cash? Ans. Yes. Take care to ensure that you have accounted for the same and recorded in c .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ash book, ledger and Balance sheet. If you have not maintained books of account, then you must be able to show sources from which you spent expenses (like cash balance in cash inflow statement, withd .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rawals from bank, cash income earned like salary or other income. Other wise expenses can be added in income as undisclosed expenses.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X