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Cash transaction after demonetixation

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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2017 i deposited Rs. 650000 into my bank account during the period 08/11/2016 to 30/12/2016. This was the cash held by me on 08/11/2016. i have received a query from the income tax department regarding this cash transactions.

Under which head i have to include this cash deposit? is it to be shown under the head CASH OUT OF EARLIER INCOME OR SAVINGS? or any other head? This cash was held by me on 08/11/2016.

Experts kindly clarify.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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22 July 2017 Usually individuals who don't have any business or professional income will not possess an amount of Rs.6 lacs.

Kindly clarify if its generated through your savings over the years and accordingly , submit

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