Provisions Relating To ‘Tax Treatment Of Cash Credit’

1. Basic provisions 2. Conditions to be satisfied for applicability of section 68 3. Other provisions to be kept in mind 4. Tax rates applicable to amount charged to tax by virtue of sections 68, 69, 69A, 69B, 69C and 69D

Any sum found credited in the books of the taxpayer, for which he offers no explanation about the nature and source thereof or the tax authorities are not satisfied by the explanation offered by the taxpayer, is termed as cash credit. In this part you can gain knowledge about various provisions relating to tax treatment of cash credit.