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S S Singh (Sr. SE)     30 April 2009

Request for Information by ITO

I’m a salaried person and TDS is deducted at source. I had purchased a flat in my name in May 2008. For this I was gifted money from my father, wife and mother in law. For proof I’ve all the copies for cheques and DDs.

Also, I’m due with some self assessment tax and obviously ITR last date is 31st July and I’ve not received the Form 16 from my employer yet.

I’ve received a letter from ITO with Subject “Calling for information under section 133(6) of the Income Tax Act, 1961 in connection with survey conducted u/s 133A of the Income Tax act 1961 in the case of M/S [Builder Name]”

And they have requested me to furnish the following documents:

1.    1.    Amount for which Flat booked.

2.    2.     Details and Proof of payments made to builder. Also to furnish copy of bank account in your name and sources of investments made for purchase of said flat.

3.    3.    Also to furnish PAN and Ward/Circle where I’m being assessed to tax.

Please clarify Which documents should I furnish?

Only Bank account statement or Copies of Cheques/DDs along with Form 16 also?

I request to please advice in detail.

Thank you.


Learning

 3 Replies

A V Vishal (Advocate)     30 April 2009

Dear Mr Singh,

Please furnish the copy of the registered sale deed for the flat purchased from the builder. State the payments made by you in cheques to the builder, which can be supported by your bank statements, similarly you have to substantiate for cash payments suitably. Furnish details of your PAN and the ward to which you are being assessed to. Also, give the ITO copies of the cheques/D D's which you received from your father, wife and mother. In my view that should be sufficient. In any case you have bought the house in May 2008 viz. assessment year 2009-10. If the value of the property is more than 30 lakhs then declare the same in A I R information while filing the return of Income for the year ended on 31.03.2009. 

S S Singh (Sr. SE)     01 May 2009

Dear Vishal, thanks.

The value of flat is Rs. 20 Lakh. Any need for declaration anywhere?

A V Vishal (Advocate)     01 May 2009

Not necessary to declare if the value of the property is less than Rs.30.00 Lakhs


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