Transaction above 25,00,000 by cheque?
This query is : Resolved
Querist : Anonymous
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.
DO I WILL GET ANY NOTICE FROM INCOME TAX DEPARTMENT?
PLZ HELP URGENT.
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.
Ganeshbabu K
(Expert)
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
.
.
so ready with some explanation..if it is any income you have to pay tax and file income tax return
26 November 2013
Ready to disclose source of income.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
