Cash deposited after 8/11 and notice

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2017 Hi,

My client has deposited cash worth Rs350000. He receives notice from IT department to response for cash transaction 2016.

My client has filed defective return for fy 2015-16 and corrected in jan 17. He has shown income as Rs.450000 and Rs.10000 cash. He did not show profit and loss account.

Now, My question is how he should response for this notice in cash transaction 2016 in efilling portal.

Should he select option. cash out of earlier income or saving in response for cash transaction 2016?

Thanks. Guide earliest.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 February 2017 Yes select the option cash out of earlier income or saving. Return has been filed no problem,

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2017 Sir,

Is there no problem with cash balance 10000 as on 31/3/16?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 February 2017 There is no other specific head applicable in your case. This head can include current year savings also.

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