Dear All,
I have a assessee who deposited cash in his own bank of Rs 2500000/- out of sell of agri land in Name of his Mother.
Now he draws TDR in name of his Wife , Mother , sister and his own name and given respective Pan to Banks.
Now i m confuse how to disclose above transaction while filling ITR.
Please suggest if u have any idea.
Thanking You !
"I have a assessee who deposited cash in his own bank of Rs 2500000/- out of sell of agri land in Name of his Mother."
Get the copy of the sale deed of the agricultural land, check whether its date coincides with the cash deposited date, and then proceed.
Make notorized Gift deed of the amount from mother to these family members.
CAclubindia
