Chartered Accountants, practicing CA’s, students and related industry professionals may connect with users of similar interests. To raise and discuss issues related to finance and taxation. The objective of this group is to address concerns and bring out feasible solutions for making a strong communication network for all related audience.

Tax

1 reply, 2 voices Last updated by  Yuvika Deshmukh 1 week, 4 days ago
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  • Author
    Posts
  • #5348

    Bhakti manohar
    Participant
    @bh@kti123

    Mr.X gave his black money ₹1 Crore to Mr Y who purchased jewellery from it and transferred the same by way of gift back to Mr.X who received the same in his stock-in-trade. How this ₹1 Crore is taxable?

    #5362

    Yuvika Deshmukh
    Participant
    @yuvika@123

    When Y buys jewelery of 1 crore the Assessing Officer will ask him about the source of this 1 crore. Then, sec 69 will apply to him.

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