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High I used my personal credit card for my small family business.As to small family business no return is filled. but I m salaried person. But now I got a Income tax notice for excess transactions on credit card.Kindly guide me how to answer their query & what will be their action.
From India, Mumbai
You need to consult a good IT Consultant, who is well versed and deals with such issues.
He will be able to guide you about your indulgence in an entrepreneurial venture, which did not take off. Hope you have documentation for your expenses and the source of such expenses.
Warm regards.

From India, Delhi
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