To avoid any legal action from income tax department
Shiv Gawale
(Querist) 12 August 2017
This query is : Resolved
Sir,
My friend working at government sector, during 2015-16 he has donated some amount to xyz foundation. On the real fact is he has not donated any amount to said foundation, some amount pay to foundation like Rs. 5000/- and get Rs. 50000/- donation slip from said foundation for benefit of income tax. In this connection Income tax department call him and recorded all the statement along with 400 hundred more people. My friend said real fact to Income tax department and Income tax department said our target is foundation not you so said real fact to us.
Hence, my question is which action tankan by Income tax department to against my friend and what are the legal procedures to avoid any mishap?
Also guide me any legal procedure to pay some amount to Income tax department for avoid any legal action?
Guest
(Expert) 12 August 2017
Seemingly, no chance to avoid any action by the IT department. Besides his own offense of concealing his own income and tax evasion, he is guilty for helping the foundation in money laundering case also.
Kumar Doab
(Expert) 12 August 2017
Has any action been taken by said IT officials against foundation and your friend?
Kumar Doab
(Expert) 12 August 2017
What amount you are contemplating to pay to IT Dept. to avoid any legal action?
Get in touch with your local ITax Consultant/CA.....
Rajendra K Goyal
(Expert) 12 August 2017
Income tax department may not spare. As minimum punishment he may have to pay penalty, interest etc.
Shiv Gawale
(Querist) 13 August 2017
Sir, kindly tell me what type of penalty, interest IT department recover for Rs. 50000/- ?
Kumar Doab
(Expert) 13 August 2017
Take help of your own LOCAL I Tax Lawyer,CA.........
ABHIMANYU JHAMBA
(Expert) 18 August 2017
They will make an addition of 50000. Tax would be 15000 and penalty as well minimum 15000. They can also start prosecution for wilful evading tax.
Abhimanyu Jhamba
Advocate/CA
