Tax planing

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2013 case study: Mr.X has Rs.1cr wich is unaccounted money from Tea Shop. Now he want to File return first time. sorces- Tea Shop, Agricultural Land,. he want to file return on his own, on his wife, on his son. can any one tell me how he Plan tax liability. he want to pay max Rs.30000 tax on total

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 November 2013 where is the tax planning here?? its a case of tax evasion Mr Goud..

Querist : Anonymous

Querist : Anonymous (Querist)

22 November 2013 indirectly i am asking the same Mr.kaushik

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 November 2013 well I directly answered you. It is not something you or for that matter anyone, as a tax planner should be doing. How much black money are we going to move around before we stop!!!

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2013 it is not a black money, it is business income over a period of five years.he dont know to file a return, now he want to file a return suggest me how to proceed

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 November 2013 Dear Friend,

it is unaccounted money. you want to file returns. So file proper return for past two years. properly account for expenses (with verifiable vouchers). And pay the legitimate taxes.

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