Cash transaction after demonetixation

This query is : Resolved

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)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

svgovindaraju

Krishna Kumar A

Samruddhi Agrawal

R NATARAJAN

Amogh Gokhale

Subscribe Now

Cash transaction after demonetixation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

GST CONSULTANCY

Manager- Finance and Compliance

Accountant

GST CONSULTANT

CA Final