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I need advice !! please help

+2
a_randy
sweet_kathi
6 posters

Go down  Message [Page 1 of 1]

1I need advice !! please help Empty I need advice !! please help Thu Aug 11, 2011 10:30 am

sweet_kathi


Stock Trader


I have been receiving money from my aunt who lives abroad , she sent me money through my friends

But upto now i have no legal document to prove that i took money from her, i directly went n deposited the at once in the bank
Now i have to prove that i got this money from my aunt to the income tax department.
How to get it done ? will it be enough if i take a letter from her stating the total amount of money she has sent me?
Because i got no bank statements
Please advice me... im facing a serious issue

2I need advice !! please help Empty Re: I need advice !! please help Thu Aug 11, 2011 11:49 am

a_randy

a_randy
Manager - Equity Analytics
Manager - Equity Analytics

Is income tax has informed you to provide the document ? Shocked I think it's impossible. I hope you are maintaining a normal a/c in Sri Lanka. There is a proxy in a bank about your income. Just ask them and fill it and give. It has to mentioned your annual income is below 500K or between 500K - 1Mn or above 1Mn. Accordingly they will charge up to maximum 2.5% i think. Do not worry about this, just talk with the bank people.

3I need advice !! please help Empty Re: I need advice !! please help Thu Aug 11, 2011 1:24 pm

Dileepa


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

sweet_kathi wrote:
will it be enough if i take a letter from her stating the total amount of money she has sent me?
Because i got no bank statements
Please advice me... im facing a serious issue
Letter from your aunt stating the amounts + dates and Letters from your friends who bought money to SL + a copy of their passports to prove that they traveled on those days should be more than enough.

P.S
When binging foreign currency to SL, it is required to declare that at to airport custom officer.
Your friends may not have done that at the airport, but I don't think it will be a problem to you or your friends. Just keep your mouth shut Shocked

4I need advice !! please help Empty Re: I need advice !! please help Thu Aug 11, 2011 3:24 pm

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Great advice..

5I need advice !! please help Empty Re: I need advice !! please help Thu Aug 11, 2011 3:32 pm

nirmal_g


Stock Analytic
Stock Analytic

a_randy wrote:It has to mentioned your annual income is below 500K or between 500K - 1Mn or above 1Mn. Accordingly they will charge up to maximum 2.5% i think. Do not worry about this, just talk with the bank people.

I think it should be annual income of interest and not just the income.

6I need advice !! please help Empty Re: I need advice !! please help Thu Aug 11, 2011 3:58 pm

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

sweet_kathi wrote:
I have been receiving money from my aunt who lives abroad , she sent me money through my friends

But upto now i have no legal document to prove that i took money from her, i directly went n deposited the at once in the bank
Now i have to prove that i got this money from my aunt to the income tax department.
How to get it done ? will it be enough if i take a letter from her stating the total amount of money she has sent me?
Because i got no bank statements
Please advice me... im facing a serious issue

What made you to show this to income tax dept?

If you haven't put it in a bank & if you haven't bought luxury item with that money, no one is going to know you got money any income tax dept will not come behind you.

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