Return of Income
This query is : Resolved
19 June 2010
An individual has sold an immovable property during the year & this informaion is not shown in his itr, & he has not paid capital gain tax on it. How will ITO find such income?
19 June 2010
Income tax viewing high transactions in the Individual`s bank accounts -it may help to IT department
19 June 2010
Under AIR, the Registrar, Bank authorities are bound to file such info to IT authorities which will the source for IT folks.
20 June 2010
AGREE WITH RAMESH JI IT CAN BE FIND OUT THROUGH INDIVIDUALS BANK STATEMENT
20 June 2010
I agree with Mr Kotresh because as per income tax AIR (annual information Report) must be compliance by some indian entities which cover under this section.It covers Bank,Registrar, RBI, Hotel,Stcok Exchange, Companies etc under prescribed limit.
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