kirankumar (Part time Employee/ student of BL) 25 May 2009

Whether to show to income tax Det

Person A said that he Taken money 2Lk from person B in the year 2007

my question is :

Whether the person B has to show 2 Lk given to person A in his income tax filing 2007 or not

Whether the 2lk give as hand loan or for intrest (does it matters)

Sankaranarayanan (Advocate) 25 May 2009

sir , these are two way of answer

asper ur qurey that the amount given by way of cheque then the payer must shown that amount.

if he show then the receiver also need to show it.

if the transaction is not by that way then both should not show it

one show the recard in his book then the other will be questioning. if by cash both should not show it

kirankumar (Part time Employee/ student of BL) 25 May 2009

In a case Person A said he taken money from Person B

kirankumar (Part time Employee/ student of BL) 02 June 2009

so now can we ask the person b to submit the IT filed copies for that year