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Limit on bank trasactions

This query is : Resolved 
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(Querist)
08 May 2014 sir i am an employee in a firm.my boss made transactions through my account to the extent 30 laks during 2013-14. so now am i liable to pay incometax if not may i get a notice? and how to res pond to that notice.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
09 May 2014 well you need to provide a detailed information regarding moneys received and expended on behalf of the company and state that you were holding the money only in good faith.
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