Enquary by income tax officer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2012
if a nri invest any amount or take insurance
policy and paid premium in india can ITO inspect the sourse of income although he live in foreign.
policy and paid premium in india can ITO inspect the sourse of income although he live in foreign.
CA PARAS BAFNA
(Expert)
14 April 2012
Whether an ITO "Can" inspect the source of income ?
The reply is - Yes he can.
.
Your subsequent question may be -How or Why?
.
The reply depends upon the facts.
If the investment is not substantial, then he would not like to waste his precious time as practically he would going to receive reply only and the envelop in which letters only could be found are generally not liked by them.
.
In case of small amounts like 5-10 lacs, they do not bother much now.
.
The reply is - Yes he can.
.
Your subsequent question may be -How or Why?
.
The reply depends upon the facts.
If the investment is not substantial, then he would not like to waste his precious time as practically he would going to receive reply only and the envelop in which letters only could be found are generally not liked by them.
.
In case of small amounts like 5-10 lacs, they do not bother much now.
.
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