Bhai, If I am getting higher income and to evade the tax, I want to give a gift to my Wife or parents, dont I need to show the source of income for the amount of gift i am giving ???? If I give gift to my wife, thet amount will be tax free for my wife but when she declares the source, who will be questened?? ofcource the gift giver...
Dear hon Lakhotiaji, IT dept has "intelligence wing" to investigate all such gifts.Multilevel marketing is the only (illegal)method of income that can be distributed among family members
how do i develop huf income and what are sources of income for major children other than gifts. is it not nececessary to declare source of income , please explain from venkatrao
Our Indian business class is much wiser. Ask, a small shop owner making a profit of 20lakhs per year and paying no tax. Ask one of our builder/contractor who are earning in crores as profit and still pay very little tax. They are asking the customers for CASH openely. The black money with business people may purchase all our MPs. Day has come,any one can be in the top posts.MONEY is KING. Governance dead or in ICU struggling for life.
