How to avoid tax rs 50 crore received from others to bank

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2013 if when individual recieved 50 crore to his bank directly from others . i have problem how to reduce tax , please sugest me what are all ways to avoid tax ? please give some solutions on this.

Ganeshbabu K

Ganeshbabu K (Expert)
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24 August 2013 1)Be ready with explanation for receipt of money
.
.
why it is received...you have not mentioned so cannot suggest you on how to save tax

2)99% we can expect notice from department for explanation for huge credit in ban account,,because bank will report the same in his "AIR"

3)only suggestion i can give is be ready with all relevant supporting documents and explanations on why such huge credit was there in your account,,and please consult nearest chartered accounted if it is a matter of capital gain so that he can plan you on is there any way to reduce /plan tax

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