Conseqeunces for evading tax
This query is : Resolved
21 March 2012
Facts:
I am from Andhra Pradesh.
I am retired ( 2010 ) Employee for an aided school managed by Govt.
Some fine filed TEP against me. I got notice when I was in hospital.
I came to know that I will receive notice only If, I evade tax above one lakh in a year.
In my life time I spend only 6 lakhs [including all] Amount for my daughters Marriage in 2009
There is no account for the amount spend.
Query:
What would be my tax evasion for spending an amount of 6 lakhs in a year.
If so what would be the amount, Will there be any concession.
What are the conseqeunces that i have to fase if i cant pay at a time.
Advices /suggestions please
I am from Andhra Pradesh.
I am retired ( 2010 ) Employee for an aided school managed by Govt.
Some fine filed TEP against me. I got notice when I was in hospital.
I came to know that I will receive notice only If, I evade tax above one lakh in a year.
In my life time I spend only 6 lakhs [including all] Amount for my daughters Marriage in 2009
There is no account for the amount spend.
Query:
What would be my tax evasion for spending an amount of 6 lakhs in a year.
If so what would be the amount, Will there be any concession.
What are the conseqeunces that i have to fase if i cant pay at a time.
Advices /suggestions please
22 March 2012
If you have spent the money on the marriage of your daughter out of your past earning then no tax liability simply you have prove that the amount spent by you is out of the saving and to do so it must be supported by your pass book.
In case you are unable to prove it than the amount spent but not explained by you about the source of the said money then you will be liable for Tax, interest and penalty.
It depends who is the person handling your matte against the notice received by you and under which section you have received the notice is also material. For further reply write to ssunderagarwal@gmail.com
In case you are unable to prove it than the amount spent but not explained by you about the source of the said money then you will be liable for Tax, interest and penalty.
It depends who is the person handling your matte against the notice received by you and under which section you have received the notice is also material. For further reply write to ssunderagarwal@gmail.com
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