It query for high value transactions
This query is : Resolved
Quick Summary
29 March 2021
Sir
It Assess itr (it ) return filed in time in f y.19-20. recently mobile sms received from it department of high value transactions in f.y.19-20.
1.sb interest from three banks Rs:35,000/-
2.interest from debtor Rs:1,00,000/-
Total rs:1,35,000/- in f.y.19-20.
If Assess interest income rs:1,35,000/- already show in itr under other sources of income head.
Question:
Assess notice reply compulsory or not
It Assess itr (it ) return filed in time in f y.19-20. recently mobile sms received from it department of high value transactions in f.y.19-20.
1.sb interest from three banks Rs:35,000/-
2.interest from debtor Rs:1,00,000/-
Total rs:1,35,000/- in f.y.19-20.
If Assess interest income rs:1,35,000/- already show in itr under other sources of income head.
Question:
Assess notice reply compulsory or not
CA Rashmi Gandhi
(Expert)
29 March 2021
You have to check details of high value transactions and revise the return if required.
CA PARTH SHAH
(Expert)
29 March 2021
If the income is already declared in the ITR, better state the same in the reply.
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