Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2018 Plz let me know ...if a person income is INR 180000 per annum but he made a transaction of 380000 per annum through Bank (EMI payment of loan taken in his name on behalf of others) whether tax is payable under income tax act 1961

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Expert : Anonymous

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Expert : Anonymous (Expert)
14 December 2018 No need... But, Better to keep the documents for the source of amount.

27 September 2021 In case of query, need to justify the source of remaining 2 lakhs.


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