29 March 2017
Sir actually my friend's father is doing business and in Feb he received a notice of income tax regarding a transaction occur after demonitisation of around 10 lac rs,notice to showing the details of business for ex. Sales record, cash a/c ,ledgers,audit report and other details till 22 Feb but his father is unable to go there in income tax office because of some circumstances and now year ending and no communication happened yet between them to IT office so now what him to do and what are the consequences of not communicating with IT office till now please explained in detail
29 March 2017
Login to the E filing site and respond to the notice. File the return considering the cash deposit and pay taxes you will not face any problem as the cash deposit is around 10 lacs. No need to go to income tax office.
CAclubindia
