- Client called for providing 45 lakh FD source u/s 133(6)
- We found 30 lakh source by genuine means
- We require to provide balance 15 lakh source which the person cannot reveal his actual source
- how to resolve this? any other source which he can claim that 15 lakh generated from that particular income which do not need proof ?
- Any exempted source ?
- if tax payable for 15 lakh which will be the best means to reduce tax liabilty for 15 lakh source
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Fd without source - notice called u/s 133(6)
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as of now if the 15 lakhs is charged to tax under section 68, it will be charged @ 60% as per 115BBE. if you want to reduce tax liability, you have to prove that the 15 lakhs is undisclosed income from business which will be charged @ 30%
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