Investment

This query is : Resolved 

01 October 2013 Hello

Sir/Madam

My Friend is labour worker & his saving income last 20 year he want to investment in Land/building approxy 7.00 lakh Rs. but he is not file IT return because his income below the taxable Limit. I m waiting your valuable advise.



pls. aurgently.

01 October 2013 so u need to meet an agent in real estate with the buget for purchasing land.

01 October 2013 So I m Very sorry. Advise of income Tax View.

02 October 2013 for purchasing land or making investment in land no income tax is required to be paid.

03 October 2013 Investment will make in cash or cheque. & show the return in next year this assets?
not bank a/c. what is the better view by IT.

04 October 2013 whatever mode u choose cash or bank the source must be legal then dept will not haress u.

05 October 2013 Thank You sir


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