Notice received

This query is : Resolved

Accounting Home Services (Querist)
Follow

25 March 2014 Dear All,

I Have received Notice From Income Tax Department Regarding Cash Deposit More Than 10 Lack In Bank Saving Account.
Also i am not register user of income tax e filling.
What Should I Have to Do.
Please Advice

Thanks

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

25 March 2014 now u need to show and disclose the sources from where u depoisted and if u havent paud any tax which was payable then u need to face harsh consequesnces.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

25 March 2014 what you have received is a notice for not filing the tax return despite receiving such large amounts in your bank account through cash deposits.

kindly tie-up the source of the funds, compute your tax liability and accordingly respond to the notice.

And as Tushar said, for unpaid tax liabilities, there are decent penalties and interest liabilities to worry about.

Accounting Home Services

Accounting Home Services (Querist)
Follow

26 March 2014 Thanks both of you Sir,
will see what happened...?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

26 March 2014 you are welcomed girish............................

Message likes : 1 times

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