i am doctor and i have purchased few properties for use of hospital office and my residence and investment.the ao has addededd all in my income quoting some abhishek industries versis income tax. out of this one property i am geeting rent by cheque.can you suggest what to do?if i appeal whether i will get rebate?
drvkgupta
get help of a nearby CA of your area, and make him available source of such funds and payment details towards the properties and intvestments, he will be in position to guide you properly after verification of facts and documents.
sir,
the additions apperntly have been made on the assumption that the sourse of such investments not being substantially explained.
it is important to convience the AO regarding the source of funds with adequate documentary evidence.
if the AO has notaccepted your submissions you have a right to go in appeal and ask for redressal.
CCI
Pro
CAclubindia
