alleryStart learning →Finance Act 2022 extended the section 68 lender explanation to which credit?
AGifts from relatives
BSales proceeds
CLoan or borrowing
DDividend receipts
Answer & Solution
Correct answer: C. Loan or borrowing
From AY 2023-24, a sum credited as a loan or borrowing also needs an explanation of nature and source by the person in whose name it is recorded.
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