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Viral Shah   06 March 2020

Taxation

Hello sir
I am a businessman from Vadodara Gujarat
I have withdrawn around 8 lakh from bank which are now shown as cash in hand .
I have used this money for my personal expenditure ( marriage of my nephew).
Now if you I show this as drawing in my books of Account than it will reduce my capital than I won't be able to get a loan from bank.
And I show this expenditure than still my profit will reduce.
Please show me a way such that even it won't amount violation of any provisions of income tax..

Thanks in Advance


 2 Replies

malaika   06 March 2020

may be a CA can help

Karina Wells   13 July 2020

Sometimes taxation becomes a problem for some people and they always try to find a place where they ask about their issue and your blog is very useful for them. A few years ago my friend faced the same issue when he was a student then he read in one of the books you should read in your 20s and get a solution and he also suggests it to me and other students to read these books.


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