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Cash deposit notice in saving bank
a) Cash withdrawn out of bank account
Be prepared to explain the source of original cash deposit.
Dear Sir,
If you have proper evidence to produce relating to the 10 Lakhs earned and submitted your PAN details to the bank (i.e., your bank account has been linked with PAN) and you have paid proper tax on such income then there will be no problem.
This is help you justifying for case in future if notice for questioning is issued to you.
There is a segment to report remittance out of withdrawal. Use that segment to respond to the remittance during the demonetisation period.
Otherwise, like some one said before, make sure you have enough sources to explain the holding and possibly file an Income Tax Return for AY 2015-16 ( year ended 31.3.15 ) before it gets time-barred & AY 2016-17 (year ended 31.3.16 ) disclosing the nature of income you have (including agricultural income)
Prepare your Computation and file your income tax return.
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