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Deposited 4L in sisters account, will it attract tax when I withdraw
30-Oct-2023 (In Tax Law)
I had a old rented flat, land lord give me 9 lks to vacant the flat. I get slalry all in cash. I am filling return of 2.4 lks from last 2 years. I deposited 4 lks in my bank account and another 4 lks in my sisters accoun who is married and getting 20000 salary every month by cheq. Now i want to take 4 lakh back in my account from my sister by cheq as a loan. In this case if i dont pay any tax on above income, am i going to get income tax notice?
If your are getting any amount as a loan than it will not attract any tax.
But that will create an issue to your sister because how she is receiving 4 lakh is an issue for her.
However for further info you can contact me via phone or email me your further querry
But that will create an issue to your sister because how she is receiving 4 lakh is an issue for her.
However for further info you can contact me via phone or email me your further querry
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Adv. Sanket Gupta
Ahmedabad | 25+ Answers
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