Income from other Sources

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sagar (Querist)
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03 February 2010 Dear Sir/Madam,
My name is Jaysing Chougale i m located in Kolhapur. I want one advice from you. My friend name is Suresh his Business income Rs.10,00,000 p.a. and he earns extra income 10,00,000 p.a.from other sources. But question is that he has not any type of record of income from other sources. Hence he wants to know that it is possible to show that other sources income and what will be that procedure.
Please co operate us and take into consideration.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 February 2010 Income nature only to decide the Head or source of income

CA.Pujah

CA.Pujah (Expert)
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04 February 2010 yes!! the source is required to decide it's nature & under which head it will be taxable

M Prabhakar Menon

M Prabhakar Menon (Expert)
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04 February 2010 By enlarging his income base your friend will be able to increase his capital which any prudent businessman needs to raise resources Check out back up documentation for income from other sourses to avoid attraction S 68 provisions

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