income tax I have a property 200 sq. yard built house in India partly used as residential for my family and rest rental. I am getting rent 50K RS monthly to survive as there is no other source of income for my family. this amount is enough for our day to day expenses plus childresn school/college fees plus other transportation expenses.
My query is recently we have received a letter from income tax deprtment to get PAN card and also they are asking us to the transactions where as we do not have any transaction record for day to day expenses. I have one vehicle plus driver for chilrens transportation.
So what should I reply to the income tax authorities.
Kindly advise asap.
Last edited by mkhussain : 08-10-2011 at 08:37 AM.
Reason: correcting the sentence.
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