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Ayesha Soni

ACCOUNTANT & AUDITOR

28 Points Posted on 12 February 2015

I GOT NOTICE FROM IT DEPT. FOR DEPOSITING OF CASH EXCEDDING 10 LAKH IN PY 2010-2011 IN MY SAV A/C ON MY NAME ..MY FATHER IS AGRICULTURIST & AGRI.LAND IS ON THE NAME OF MY FATHER & (SUCH SUM RELATING OF MY FATHER ITS SALE PROCEEDS OF AGRICULTURE PRODUCT )NOW MY QUE IS HOW TO SHOW SUCH FACT IN NOTICE??

HOW I CONVINCE IT DEPARTMENT

CAN I SHOW AGRICULTURE INCOME IN MY IT RETURN FOR AY 2014-2015 EVEN THOUGHT AGRI. LAND IS ON NAME OF MY FATHER ??

PLZ FEED BACK EARLY

Replies (1)

Anubhav

Chartered Accountant

423 Points Posted on 12 February 2015

Originally posted by : Ayesha Soni
	I GOT NOTICE FROM IT DEPT. FOR DEPOSITING OF CASH EXCEDDING 10 LAKH IN PY 2010-2011 IN MY SAV A/C ON MY NAME ..MY FATHER IS AGRICULTURIST & AGRI.LAND IS ON THE NAME OF MY FATHER & (SUCH SUM RELATING OF MY FATHER ITS SALE PROCEEDS OF AGRICULTURE PRODUCT )NOW MY QUE IS HOW TO SHOW SUCH FACT IN NOTICE?? Kindly make a note explaining the transaction, attach your bank statement highlighting this transaction. HOW I CONVINCE IT DEPARTMENT. Show this as a gift from father out of love and affection , check sec 56(2)(vii) of The Income Tax Act. It will be exempt. & CAN I SHOW AGRICULTURE INCOME IN MY IT RETURN FOR AY 2014-2015 EVEN THOUGHT AGRI. LAND IS ON NAME OF MY FATHER ?? Since land is not in your name, you cannot club your fathers incme. PLZ FEED BACK EARLY