Acknowledgement in AI report
This query is : Resolved
10 January 2024
Hello Members,
Last week of Dec there were quiet few SMS received from Income Tax asking to confirm certain high Value transactions.
My Query is
In case of negative confirmation - Transaction not relating to us - we needed to respond,
In case the transaction is right - do we still need to confirm the same. What would be the implication if the same is not confirmed?
Thanks
Last week of Dec there were quiet few SMS received from Income Tax asking to confirm certain high Value transactions.
My Query is
In case of negative confirmation - Transaction not relating to us - we needed to respond,
In case the transaction is right - do we still need to confirm the same. What would be the implication if the same is not confirmed?
Thanks
10 January 2024
No need to confirm in such a case but if required file ITR and pay taxes. It's a reminder to this.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- IT returns for fresh job holders
- F&O reporting in ITR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Loss of interest in PF transfer from EPFO to Trust
- Short Term Gain Reporting ITR
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- ITR-3 File/Error Found
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
