26 November 2013
I HAVE RECEIVED WROTH rs 25,00,000 IN MY SAVING BANK ACCOUNT THROUGH CHEQUE, WILL INCOME TAX WILL CREATE ANY PROBLEM? OR DO I HAVE TO GIVE REASONING FOR THE AMOUNT ? I HAVE NEVER FILLED MY RETURN IN ANY PREVIOUS YEAR?
DO I WILL GET ANY NOTICE FROM INCOME TAX DEPARTMENT?
26 November 2013
It is better that u have sufficient supproting evidence for above amount in case if it knocks your door u are prepared for it..dont worry they will not check each ones a/c ind.
26 November 2013
it is possible that income tax department will ask you explanation about this... . . so ready with some explanation..if it is any income you have to pay tax and file income tax return
CAclubindia
