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
CA R SEETHARAMAN
(Expert)
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.
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