hi ,
i have deposited Rs 1046000 cash in my bank account A Y 2011-12 and received notice from income tax department for the same. i have visited income tax department and claim it is a agricultural income but assessing officer denying to accept and also he is telling that we will issue order.
what assesing offcer has right and how much tax i have to paid.
pls suggest your best opinion.
Regards
Abhishek
IF IT IS AGRICULTURAL INCOME YOU ARE REQUIRED TO PRODUCE DOCUMENTS FOR THE SAME.
OTHERWISE GET READY FOR ALMOST 60 PERCENT INCOME TAX
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