pls. help

This query is : Resolved

Yogesh (Querist)
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14 April 2011
Respected Seniors,

Pls. advice me what should i do in following situation.

Mr. A has a lot of property as Investment and he also trades in it but still he hasn't filled his ITR. His pass book also has a volume of transactions of big amounts.
He also don't have PAN

Now, after a long time he wants to file his ITR. So, pls. let me know the best possible way to file the ITR.

Experts kindly advice, as its very urgent to me.

With a lot of thanks,

Maninder Jain

Maninder Jain (Expert)
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15 April 2011 WAIT for any VDIS to come

Yogesh

Yogesh (Querist)
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15 April 2011 Sir, can this property be shown as gift.
pls. clarify

Maninder Jain

Maninder Jain (Expert)
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15 April 2011 Yes gift to any blood relative out of natural love & affection

Yogesh

Yogesh (Querist)
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16 April 2011 Sir,

If he shows this immovable property partly from inheritance and partly from sale proceeds of inheritance property then whether the assessee may have to face any litigation.

Is there any case law which could be helpful in this matter in future.

Thanks,

Yogesh

Yogesh (Querist)
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16 April 2011
If the assessee may face litigation then how he should keep himself ready for them. Which type of documentary evidences could be helpful to him.