dear sir one of my Clint purchase one land. cost 50 lakhs now he pay all the money threw bank account and that money he arranged some unsecured loans from people any income tax notice will be receiving in future
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Quick Summary
Purchasing land for 50 lakhs using funds from bank accounts and unsecured loans may raise questions about income tax. However, simply using borrowed money to buy property typically does not trigger an income tax notice. It's important to ensure all transactions are properly documented and declared.