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students zone,CA Students
Mohammad Nazim

[ Scorecard :115 ]

Dear friend please give me Valuable opinion on following metter

Capital of MR A                 500000.00

Unsecured loan                                200000.00

If Mr A want to increase his capital threw unsecured loan than what will be penalty in income tax act as well as other act

Now Mr A show his capital in the balance sheet as (own capital 500000.00 and unsecured loan 200000.00) Rs.700000.00 with out showing unsecured loan


Ashish Karundia

[ Scorecard :5406 ]

Dear Nazim,

There is no penalty if one increases his unsecured loan through genuine sources and is establish the same before the Income Tax Authorities.


Please let me know if there is any other view. Further, I would request you to post the same in query section as that would enable you to get replies at a more quick reply


[ Scorecard :11824 ]

yes , there is no penalty 

CA Anup Moondra

[ Scorecard :90 ]

Yes i m agree with CA Subhash Kr., There is no penalty on Increase in Capital by geniune way. Plz keep in mind that any unsecured loan is taken by Asseessee is by only Crossed Cheque and DD


[ Scorecard :642 ]
yes this is right answer


[ Scorecard :219 ]

I tottaly agree with Mr. Ashish's reply, No penalty in this case.


e-Filing Income Tax

Mayank Rastogi

[ Scorecard :58 ]

There is no panelty in increasing the capital through unsecured load but it should be taken through crossed cheque or DD not in cash from genuine source.

CA Gaurav Kumar Agarwal

[ Scorecard :334 ]

See what happen whenever this type of planning is done then it is better to show the entries like.

Unsecured loan dr

to capital of Mr. A


It means u have paid the loan


there is no penalty


[ Scorecard :81 ]

Govt has launched new pension scheme for employees. What will be the treatment of Govt contribution in new pension scheme.Whether any rebate is admissible,Whether govt contribution will be added in income.Pls guide

CA Chandra Shekhar

[ Scorecard :154 ]

Please share from where I can get ICAI Tax Suite Software? My software is corrupted now, and want a fresh copy to download.

CA Bhagirath Ghare

[ Scorecard :123 ]

Tax Suite – Software Freely available just click on the below link and get your copy immediately:



[ Scorecard :7839 ]


pradip agrawal

[ Scorecard :79 ]

YES, i also agree with if any assessee increases its capital with guniune way there is no any penlaty and also same in other law

Company Formation

[ Scorecard :62 ]

Agreed with no panelty if any assessee increase its capital with guinine way there is no penalty on that case of Income Tax.

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