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Income tax
Sir I have taken a.loan of loan amount is 5lakh from a finance company.for purchase of land where I want to build my house. But unfortunately the land I have selected had already been sold to another person by its owner. I have invested the amount in postoffic RD for 1yeat so that I can find a suitable land in the meantime. Dose this fall under financial irregularity. Can Income tax department issue a scrutiny notice against my return
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You are answerable to all such transactions, but don't expect any notice from department based on such issue if done via banking channel.
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