Importance of reversing an entry

[pranaym]

Hello!
I'm in need of X amount in cash. I asked a relative of mine, he can arrange cash and I'll send the same amount in his bank account.
It will be a savings acc to savings acc transfer.
How important it is to reverse the entry? Or we can just ignore it?

 

[SSV]

Hello!
I'm in need of X amount in cash. I asked a relative of mine, he can arrange cash and I'll send the same amount in his bank account.
It will be a savings acc to savings acc transfer.
How important it is to reverse the entry? Or we can just ignore it?

Hello!
Depends on value of X with respect to your ITR value..
Regards

 

[Vasuki]

Hello!
I'm in need of X amount in cash. I asked a relative of mine, he can arrange cash and I'll send the same amount in his bank account.
It will be a savings acc to savings acc transfer.
How important it is to reverse the entry? Or we can just ignore it?

Untill he & your member pay your due taxes . You have nothing to worry about
If amount is more than 10 lakh one need to justify souce if asked ..else be happy

 

[Vasuki]

Hello!
Depends on value of X with respect to your ITR value..
Regards

Good night .
See you next week 💪

 

[SSV]

Untill he & your member pay your due taxes . You have nothing to worry about
If amount is more than 10 lakh one need to justify souce if asked ..else be happy

Where did you pluck this value of 10 L Doc ??

 

[Vasuki]

Where did you pluck this value of 10 L Doc ??

5-10 lakh cash or immediate payment into saving without that kinda transaction earlier can be reported.

 

[SSV]

Good night .
See you next week 💪

Where did you pluck this value of 10 L Doc ??

Don't worry replying to this doc..
See you next week.
Good night

 

[SSV]

5-10 lakh cash or immediate payment into saving without that kinda transaction earlier can be reported.

There is a lot of story behind this, we can talk later
Good night

 

[Vasuki]

Don't worry replying to this doc..
See you next week.
Good night

Finally went for fd route* apay way .
Icici was too random in Pre approved offer .
Put 5 in hdfc . Anything more on hdfc front !

 

[SSV]

Finally went for fd route* apay way .
Icici was too random in Pre approved offer .
Put 5 in hdfc . Anything more on hdfc front !

Nothing..let's talk next week. Take rest