Does IT department scrutinize RTO information

[Being.smart]

These days its been made mandatory to provide PAN card while registering any new car

so i was wondering, whether the IT (Income Tax) department goes through the details of the PAN card for high-end cars, and opens files on the basis of it ? ?

 

[AMG]

Tax evasion, eh?

 

[Being.smart]

Tax evasion, eh?

naah

 

[rock_ya_baby]

Not unless they have a reason to suspect foul play or any red flags.

 

[axeman]

Short Answer: yes.

Long Answer: yes indeed. above certain values (5 Lacs+), they see if the pan number given does not file returns proportionate in value to the purchase of the car.

 

[rock_ya_baby]

How do the Gujars in Greater Noida, Haryana able to buy fleet of Fortuners and Scorpios with cash?

I've personally seen a friends farm where he asked his drivers to drive all of his 8 scorpios fortuners with little ploughs to dig his fields! This is common in Greater Noida region.

 

[all4music]

he asked his drivers to drive all of his 8 scorpios fortuners with little ploughs to dig his fields! This is common in Greater Noida region.

 

[Being.smart]

How do the Gujars in Greater Noida, Haryana able to buy fleet of Fortuners and Scorpios with cash?

I've personally seen a friends farm where he asked his drivers to drive all of his 8 scorpios fortuners with little ploughs to dig his fields! This is common in Greater Noida region.

India shining

 

[max_demon]

How do the Gujars in Greater Noida, Haryana able to buy fleet of Fortuners and Scorpios with cash?

I've personally seen a friends farm where he asked his drivers to drive all of his 8 scorpios fortuners with little ploughs to dig his fields! This is common in Greater Noida region.

Isn't TAX exempted on Income from Agricultural/Farming sources?[DOUBLEPOST=1432360975][/DOUBLEPOST]

How do the Gujars in Greater Noida, Haryana able to buy fleet of Fortuners and Scorpios with cash?

I've personally seen a friends farm where he asked his drivers to drive all of his 8 scorpios fortuners with little ploughs to dig his fields! This is common in Greater Noida region.

Isn't TAX exempted on Income from Agricultural/Farming sources?

 

[avi]

^yes.

 

[Being.smart]

Agriculture income is tax free, but there is limit also

you can only show income of 10-15k per acre of land,

 

[AMG]

Agriculture income is tax free, but there is limit also

you can only show income of 10-15k per acre of land,

Barren land?

 

[nRiTeCh]

Lol! Scorpio as ploughs then tomorrow nano as haathgadi bmws and audis will come as last minute volvo bus replacements.
India going crazy.

 

[swatkats]

Through showroom they wouldn't know but through RTO possible. But usually cars below >5 lakhs, they do not care.
I heard from my friend whose parents work in IT department that they're keep a tab on Online shopping of persons through their mobile no Etc.
Be careful @Being.smart , You are Next!

 

[Being.smart]

Through showroom they wouldn't know but through RTO possible. But usually cars below >5 lakhs, they do not care.
I heard from my friend whose parents work in IT department that they're keep a tab on Online shopping of persons through their mobile no Etc.
Be careful @Being.smart , You are Next!

can you get some more info, what all things are they tracking too ?

 

[avi]

IT has tie up with Amazon, Flipkart, Clear Trip etc where they monitor how much you are spending. The moment you spend more >3L you will be added to watch list and you will monitored. Shit gets real when spending is more than >10L.

 

[max_demon]

IT has tie up with Amazon, Flipkart, Clear Trip etc where they monitor how much you are spending. The moment you spend more >3L you will be added to watch list and you will monitored. Shit gets real when spending is more than >10L.

but that isn't of any issue as we spend the money in electronic transfer so its monitored anyways.

 

[Being.smart]

Happy that PAN card is not required for imported stuff

 

[max_demon]

Happy that PAN card is not required for imported stuff

until you have IEC

 

[swatkats]

Honest tax payers have nothing to fear, says FM Arun Jaitley
http://indianexpress.com/article/bu...ar-says-fm-arun-jaitley/#sthash.9ZD0hfbn.dpuf


Also, @Being.smart If you want IT people at your home, do a simple thing
Deposit 4 Lakhs and withdraw.. x (repeat this 3 times). You will see them.