Cash directly deposited into bank account by debtors-40A(3) applicable or not

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..... Sir, various debtors have directly deposited cash in my current account from different location. what is the impact on me as a creditors and impact and violation on debtors. - Reply By DR.MARIAPP .....

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..... AN GOVINDARAJAN - The Reply = In my opinion there will be no impact on you. However the debtors will be considered violation of Section 40A(3) of the Income Tax Act , if the cash deposits excee .....

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..... ds ₹ 10,000/- in a day. - Reply By ARVIND JAIN - The Reply = Agree with the view of DR.MARIAPPAN GOVINDARAJAN Sir, hope the deposit amount is not more than 2 lakh in one instance against one .....

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..... bill go through section 269SS and u may have to file Form No. 61A - Annual Information Return or Statement of Financial Transactions] under section 285BA of the Income Tax Act, 1961 - Cash d .....

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..... irectly deposited into bank account by debtors-40A(3) applicable or not - Query Started By: - Amit Kumar Dated:- 16-7-2021 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Shar .....

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..... ing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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