Hi Experts,
I got show cause notice for 70L Rupees which I used to buy an apartment in 2014.
I have shared all income document and bank loan documents but still got a showcause notice to provide documentary evidence. Currently I am outside of India. Can CA or any representative appear for show cause notice ?
if I am not able to show up within 15 days time limit what will be the appr penalty amount which I may inccur ?
This is a common problem for NRIs nowadays. IT department keeps asking for source of funds for property purchases.
My uncle is facing the same issue. You should reply to the notice within the given time limit. IT dept takes drastic steps in some cases where such notices are ignored. They froze my uncle's bank accounts in India as he missed the deadline.
This is for individual not for firm. Can a CA represent an individual for showcause ?
T R SOOD & CO
New Delhi
CA Inter
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CAclubindia
