my client first time filing of it returns. his aged 38 years. his marriage in 2002 and purchase a land with marriage gift Rs.75 000/-.
he purchase a shop in 2006 value 8 59 570/- through his mother give cash gift Rs700000/-. she received amount from her husband bank manager take vrs in 2002 take cash 12 00 000 and he died in 2004 lic amount received in 2004 total 2 00 000/- total 14 00 000 having and disbursed amount her tow sons.
(mother disbursed amount to two sons each Rs 7 00 000 take cash as a cash gift)
he also purchase a shop in 2009 rs. 7 11 885/- his wife give gift 1 50 000/- + his brother-in-law+Father-in-Law give 300000 remaining his own amount.
he purchase a vacant site in2010 Rs.4 63 055/- with take loans from sundry debtors. he is a fancy shop with joint his brother total turnover year 5 lk below no vat registration. he income source is only rental income + money lending.
he can purchase a apartment and he went to bank loan, they are aks it returns. i am ask all information he give documents and cash sources.
Whether you can file IT returns for him or not. If so how to file the belated returns?????
Querist :
Anonymous
Querist :
Anonymous
(Querist)
10 January 2011
when there are not taxable income in previous years. present income is above limit so why cannot file my client it returns. the case are select or not is told it cpc dep., we are approach to u any solution to develop capital and sources of income for face feature it problems.