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Transaction above 25,00,000 by cheque?

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Querist : Anonymous

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Querist : Anonymous (Querist)
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?

PLZ HELP URGENT.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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.
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Ganeshbabu K

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Ganeshbabu K (Expert)
26 November 2013 it is possible that income tax department will ask you explanation about this...
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so ready with some explanation..if it is any income you have to pay tax and file income tax return
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
26 November 2013 Ready to disclose source of income.
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