Dd received high value
This query is : Resolved
chandan pal
(Querist)
31 August 2018
Mr.Roy is a salary person.Previous year he was submitted non taxable ITR-1. As on 31st July 18 he was received Rs.3 lakh DD from the company, due to companies various reasons. Hence while Mr.Roy submit ITR will he face many questions from IT Department? How to solve this problem.
K Srinivas, CMA CS
(Expert)
31 August 2018
Usually we check the purpose behind the nature of payment? All high value DD transactions invite trouble from IT. If the payment is Capital Receipt in nature, no tax is invited.
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