CS Abhijeet soni Advocate (CS LLB MCOM MBA (FINANCE) MPHIL CA INTER PGDCA PGDA&PR ) (931 Points)
18 July 2014friends my query is
A person having the salary income(200000 pa) and he always filled return now year he deposited rs450000/- for purchase a plot that amount he arrange from relative and past savings so what should he regarding 450000/ in itr as income or not any because he deposited all in bank and then paid to other for plot.
Arpit Pachisia
(CA)
(734 Points)
Replied 18 July 2014
Need not to show amount of Rs. 4,50,000 in his IT Return. Loan from relatives is not treated as his income.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 18 July 2014
CA aashish bohra
(CA)
(35 Points)
Replied 19 July 2014
manoj
(student)
(5205 Points)
Replied 19 July 2014
450000 is not big amount also u r filling regularly return so this amount need not to be shown as his income from salary and passed saving from salary need not be shown so go ahead
CAclubindia
