Transfer of money
This query is : Resolved
24 December 2011
IF I TRANSFER ONLINE MONEY FROM AXIS BANK TO PNB ACCOUNT..OF RUPEES ABOVE 3 LACS . ..
IS THERE ANY PROBLEM IN RELATING TO INCOME TAX MATTERS...
MEANS WHETHER ANY INFORMATION ABOUT TRANSFER IS WITH INCOME TAX AUTHORITIES OR NOT ..?
IS THERE ANY PROBLEM IN RELATING TO INCOME TAX MATTERS...
MEANS WHETHER ANY INFORMATION ABOUT TRANSFER IS WITH INCOME TAX AUTHORITIES OR NOT ..?
CA PARAS BAFNA
(Expert)
24 December 2011
MORE THAN 3 LAKH RUPEE MEANS THE TRANSFER MAY ALSO BE OF RS. 10.00 LAC OR MORE.
.
IT AUTHORITIES CAN OBTAIN DETAILS FROM BANKS.
.
IF YOU HAVE GOT PROPER EXPLANATION FOR THE MONEY INVOLVED IN THE TRANSACTION YOU SHOULD NOT WORRY, OTHERWISE PROBLEMS MAY ARISE.
.
IT AUTHORITIES CAN OBTAIN DETAILS FROM BANKS.
.
IF YOU HAVE GOT PROPER EXPLANATION FOR THE MONEY INVOLVED IN THE TRANSACTION YOU SHOULD NOT WORRY, OTHERWISE PROBLEMS MAY ARISE.
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