Cash deposit in saving account more than 1000000/-

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This query is : Resolved

Munaf (Querist)

14 April 2014 Dear Sir,

My accesses are received letter from Delhi Income Tax department regarding of non filling of return & more than 10,00,000/- cash deposit in saving account.

So please advice me what I can do?

Can I submit my reply in Manually (Local Income Tax Office) it's valid? or reply in income tax e filling side?

Sandeep Dharar

Sandeep Dharar (Expert)

14 April 2014 U should reply in writing to the IT office address from where the letter is sent to u. Give disclosure of the cash deposit along with ur bank statement & I suggest to visit personally.

Nikhil Kaushik

Nikhil Kaushik (Expert)

14 April 2014 what you need to do is:

1. compute your tax liability for the relevant year

2. if the income is below the exempted limit, then respond stating that the income was below the tax limit

3. if the income is above tax exempted limit, you need to respond to the notice stating that the return is under preparation. Thereafter, contact the jurisdictional AO for payment of taxes and submission of manual returns.

Munaf

Munaf (Querist)

15 April 2014 Thank You Sanddeep Sir & Nikhil Sir,

Letter received from Delhi IT Department Can I submit my reply in any income tax office ( nearest in my village)?

Nikhil Kaushik

Nikhil Kaushik (Expert)

15 April 2014 no. response has to be sent to Delhi IT department itself. `

Munaf

Munaf (Querist)

15 April 2014 Ok

Thank you Sir...

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