31 May 2012
Gift received on occassion of marriage is exempt from tax.So, this is a case of converting black money into white. what kind of document/detail that A.O may ask from assessee? if not provided will it be added to income of the assesse?
01 June 2012
Dear concerned- 1 Produce the marriage invitation copy, 2 if the gift credited is a huge amt, then prepare a list of relative, friends etc who has contributed the gift amt. 3 if yu wish to include non contributors in that list have a word with them of your intention to do so. hope you got the point
with this AO may satify- He can add the portion of gift as income but you can file an appeal
CAclubindia
