Scrutiny
This query is : Resolved
07 August 2014
Notice is received if an assessee makes a cash deposit of more than 10lakhs in a saving account in one financial year. can that be avoided if the assessee opens two seperate bank accounts and deposit an amount of 9lakh each.
in short my doubt is IS THE LIMIT OF 10LAKHS BASED ON EACH ASSESSEE OR EACH SAVING ACCOUNT
07 August 2014
i think even then these transactions will be noticed by the departement
07 August 2014
Income tax deptt make query form bank regarding the rs. 10 Lacs or more deposit in cash in a year. it is identify by PAN or your address. If you make two or three SBa/c it may possible you recived the notice due to your PAN will same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Pan Card apply for Self help group
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
