Re: [www.keralites.net] PANCARD/INCOME TAX

Dear Jayashree It will always advisable to consult a CA and a trusted one if the amount u are showing is like all cheque deposit the ratio of income tax goes very high to ur end pay so the CA will advise u from whr it could be controlled and where it be profitable to u   Get a CA which is known to u and trustworthy Regards Sajesh Rajan     --- On Tue, 27/7/10, jayanairaa <no_reply@yahoogroups.com> wrote: From: jayanairaa <no_reply@yahoogroups.com> Subject: [www.keralites.net] PANCARD/INCOME TAX To: Keralites@yahoogroups.com Date: Tuesday, 27 July, 2010, 2:28 PM   Dear Friends, Our friends who know more about Pan card and income tax can help me. I am doing a small scale real estate business, means buy a property and sale, I am getting nearly 5-6 lakhs per year. The problem is when I sale the property I always deposit this money, upto 25 Lakhs in Nationalized banks. This may be for one or two months. I have pancard. Could you please tell me do I need to pay tax per year? Does the bank report about the deposit amount story to tax department? How can I handle this issue? Please advise me Regards Jayashree Nair ========================= http://keralites.net =========================

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