If Yes Don’T Be Surprised – When The Taxman Comes Calling

income tax departmentI want to ask you a question. Have you been served a notice by the income tax department of late, am I correct? That’s why the scope for nondisclosure of income, highvalue transactions and nonfiling/defective filing of returns has become very limited. Known the reason is improved monitoring due to stricter knowyourcustomer norms and online filing of returns, both of which have made data processing easier and faster. You shouldn’t be surprised, for if tax consultants are to be believed, there had been a spike in the actual number of notices being served on income tax assessees, I’d say in case yes. Considering the above said. Say experts, do not get shocked or surprised if you get a notice from the income tax department seeking details of a transaction or source/proof of some income.

Rs 30 lakh.

Hi sir, my father purchased a land which is registred in name of my wife, payment for land is done by my father, my wifeis a house wife.

What action can income tax dept take inthis case. Value of land was about 23 lakhs. On top of that, can they club money deposit in account without pan card? Doesn’t it sound familiar, this is the case right? Two of them were genretaed by employers and one opened on my own.

income tax department Hi sirI getting my bussness cheques in saving account. Mahesh you must file your Income Tax Return as you have receipts more than 10lacs. Amount is expenditure on Labour is abt My income is less than how to file return. It required to file return, am I correct?

If I have made investments in name of my wife n son in Wife not having pan no.

What action can income tax dept take. Remember, there was a risk to take the money to home. Oftentimes few minetus were left to deposit the money in bank. Made a house with investment of more than one crore. Nonetheless, now what should I do with the IT notice. My brother could not present PAN Card to Bank. Remember, i presented my PAN Card to bank and deposit the money. A well-known fact that is. Hi, To be honest I also received a IT notice for deposit of more than my total deposit in my all banks are not more than I also deposited money in a visa card of my brother of Rs 800000 when he sold his house. As a result, my income shown is less than ten lacs.

You may enter into a big trouble by providing PAN of yours in this transaction. You can reply to Income Tax Department with the sell agreements that you were not party to the agreement and actual seller is a third person You may enter into a big trouble by providing PAN of yours in this transaction. Rs 30 lakh.

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