Dear All,
one of my clients deposited cash of more than 3L in his bank account which is a return of a hand loan he given in the past, and he has a yearly income of 10L from his job.
is there any chances of getting IT notice for this deposit of yes is any alternate on this..
Please suggest..
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Cash Deposit IT notice
Replies (4)
If that is the only cash deposited in a financial year, there would not be much difficulty, chances of getting notice 50:50.
As per my knowledge if any person deposits 2lacs in single transaction or 10 lacs in multiple transactions in a year will get notice.
Correct me if I am wrong
Correct me if I am wrong
not necessarily
the chances depend on the declaration of deposit
the chances depend on the declaration of deposit
good clarification and information
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