Unexplained Cash Credits

Tax Glossary Definition

Unexplained Cash Credits

Unexplained Cash Credits – Unexplained cash credits are amounts deposited or credited in books of accounts for which the taxpayer cannot provide a satisfactory explanation. Such amounts are treated as taxable income under the Income Tax Act.

Example: A cash deposit of ₹1 lakh without a valid explanation is added to the taxpayer’s income and taxed accordingly

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