Income tax

SUBHASH SHARMA (Querist) 04 November 2013 This query is : Resolved
HI ONE OF MY CLIENT(RENU) HAS GOT AN NOTICE FROM INCOME TAX DEPTT U/S 143(2) FOR A.Y. 2011-12 ALLEGING THAT (RENU) HAS DEPOSITED RS. 21 LACS IN HER SAVING BANK ACCOUNT. SOURCE OF MONEY WAS ASKED BY THE INCOME TAX DEPTT.

MY CLEINT (RENU) GOT THE LAND FROM HER FATHER IN LAW ON HERE MARRIAGE BY GIFT DEED ONLY NO STAMP DUTY WAS PAID FOR GIFT DEED. NO SALE DEED WAS EXECUTED BETWEEN RENU AND HER FATHER IN LAW.

MY CLIENT HAS GIVEN THE REPLY TO ITO THAT SHE HAS EXECUTED AN AGREEMENT WITH A FARMER (JAGJEEVAN) TO SALE THE AGRICULTURE LAND. SHET GOT RS. 21 LACS FROM THE LANDLORD AND DEPOSITED IT TO HER SAVING BANK ACCOUNT.

PLEAS ADVISE.

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R.K Nanda (Expert) 05 November 2013
contact CACLUBINDIA.COM

ajay sethi (Expert) 05 November 2013
CA club india .com

uttamtibrewal@yahoo.com (Expert) 06 November 2013
dear client...
She need to reply the It department that she has received the advance for the same....
for any query do reply back

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