WHAT TO DO TO SAVE TAX

This query is : Resolved

CA Abhishek Singh (Querist)
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27 March 2010 HELLO EVERYONE
ONE OF OUR RELATIVE PURCHASED RESIDENTIAL PROPERTY FOR RS.1.5 CR AGREEMENT VALUE

SOURCES
20 LACS OF LOAN FROM BANK
80 LACS LOAN FROM RELATIVE(BY CHEQUE)
50 LACS CASH (NOT DISCLOSED IN I.T. OR BLACK MONEY)

HOW TO PREPARE IT RETURN. IT THERE ANY WAY TAX CAN BE AVOIDED ON RS. 50 LACS ALSO AT RATE HE SHOULD PAY TAX ON RS. 50 LACS UNDISCLOSED INCOME.

THANKS IN ADVANCE.
REPLY REQUIRED URGENTLY..........

MY ID abhipcc@rediffmail.com

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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27 March 2010 sec 69A apply, 3 times of normal tax

megha

megha (Expert)
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27 March 2010 SHow that the flats have purchased at Rs. 1 crore (under-valued the property) in the agreement with the builder itself . or show u have taken some loan from some relatives. there is no other wayu have to bear tax u/s 69A

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