Mr.X has taken the amount through from me. The same is shown in my balance sheet since 3 years. He is avoiding reapyment. With great difficult I cought him and collected cash from him as I have no confidence in his cheque. Now how to escape from section 269 S/T
Answer:
talk to an accountant.
yeah
Well, take two Demand Drafts for Rs.49,000 (as More than or equal to 50,000 you have to give PAN number) in the name of Mr.X payable to you and deposit them in to your account and send the acknowledgement to Mr.X
You can also make a Demand Draft for Rs one lan in the name of Mr X payable to you and mention his PAN number. It is his duty to show the source of money returned to you, you should not be worried, but make sure that he signs on the form for the DD.
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