Transfer of money

This query is : Resolved

SAURABH (Querist)
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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 ..?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.
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IF YOU HAVE GOT PROPER EXPLANATION FOR THE MONEY INVOLVED IN THE TRANSACTION YOU SHOULD NOT WORRY, OTHERWISE PROBLEMS MAY ARISE.

SAURABH

SAURABH (Querist)
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26 December 2011 if have transfered rs 200000

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