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Originally posted by :intexsuperb |
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I take all d money from d buyer and come to home. Suddenly if CBI Ride on my home , then what is my situation???
if the buyer is giving full 70 Lakhs white money, even then shud i pay d tax???)
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1. I look at the question in this way. "You have an intention to be fair i.e. pay taxes, but are not in a position to declare the income immediately for whatever the reason it be (which is presumed to be unfair)". I also presume that you are fearing your conscience and are not wanting to evade.
If this is true, I think you can defend yourself if you have any legal document for the sale. The process may involve minimal intricacies, but as far as you have a clear intention, you can defend yourself. In fact, raids are not carried through in matter of minutes in such cases. These are non-descriptt, first time cases, doubtful cases (i.e. they do not fall under definite cheating cases).
2. You are expected to pay tax. Instead, you can take another property with mutual consent. The question of money will not surface at all.
