Notice regarding time deposit more than 2,00,000/-

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2017 My sister is housewife. She made a fixed deposit of Rupees five lakhs in FY 2014-15. She received a notice on 27/5/2017 of IT Department regarding investment more than Rs. 2,00,000/-. What reply should be given to IT Department in this regard ?

Expert : Anonymous

Expert : Anonymous (Expert)

28 May 2017 If there is no any other income in your sister's name then you should give answer that income is below exemption limit and hence return is not filled.

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2017 thank you sir for your expert opinion.