Menu
***NOTICE U/S 142(1) OF INCOME TAX ACT***
If a person has made a cash deposit of more than twenty lakh rupees without disclosing the source and a notice has been issued how should he respond to the notice ?
Replies (1)
If you receive a notice under Section 142(1) regarding unexplained cash deposits, you must gather all documentation proving the source of the funds (e.g., past returns, asset sales, or documented income) and consult with a Chartered Accountant to draft a formal reply. Promptly uploading your response via the Income Tax e-filing portal is essential to avoid adverse assessments or penalties.
Recent Topics :
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
- Bank balance in ITR-3
- INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
- Tempsens Instruments IPO GMP Allotment Listing dat
- Upload Type - Correction. Not showing in TDS filli
- Partnership tax audit query
- ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
Related Topics :
CAclubindia
