Please Help: Income Tax
Posted Date : 11-Feb-2013 , 04:05:32 pm | Posted By Nerissa
My mother has recieved a income tax annaexure u/s 142(1) for cash transaction done in 2009 in her account these relate to a property sold in my name and the same was invested in a property purchased by my brother my mother is no where a joint holder in the properties the acount is a joint account with my father and brother can u suggest a way out
Category : Income Tax | Answers : 1 | Comments : 1 | Hits : 95
Answers
Answer By: Mrattunjay
Problem basically not fully understanble to me. But what i understand on that basis reply as under:
1. There is clarification required to Income tax deptt. for cash transaction.
2. If cash transaction had made more than prescribed limit: need to explanation with supporting: no issue to show clear information.
3. this is general procedure of tax deptt. ,not to worry for the same.
4. consult any CA for your help: no big problem to solve in prescribed manner.
If your query not solved yet, please come again with more information, so that proper reply can be given to you.
1. There is clarification required to Income tax deptt. for cash transaction.
2. If cash transaction had made more than prescribed limit: need to explanation with supporting: no issue to show clear information.
3. this is general procedure of tax deptt. ,not to worry for the same.
4. consult any CA for your help: no big problem to solve in prescribed manner.
If your query not solved yet, please come again with more information, so that proper reply can be given to you.
Comments
ashish dalmia
12-Feb-2013 , 12:05:24 pmwell so what i can conclude for the fact is the your mothers account was utilised in these dealing and accordingly IT DEPT gave a notice u/s 142(1) to file her RETURN OF INCOME so there is nothing to worry u file her roi under the respective form(like its a capital gain transation manually. u will get the form online or purchase the from of ASSTT YR 2010-11