I got a e campaign email from income tax department through an email to verify high value transactions. I had around 60 lakhs in credit card transactions reported due to money rotation between credit cards. I am worried that I might be in trouble for this. Can someone please help with advise on this? Will I get a income tax notice and penalties for this
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E campaign for high value transactions
Replies (5)
Have you filed ITR of the relevant assessment year?
Yea. ITR has been filed with income around 20 lakhs but SFT of credit card is reported as 60 lakhs. Is there any issue ? Can I talk to you ? I am worried about consequences
Yea. ITR has been filed with income around 20 lakhs but SFT of credit card is reported as 60 lakhs. Is there any issue ? Can I talk to you ? I am worried about consequences
| Originally posted by : Dhirajlal Rambhia | ||
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Have you filed ITR of the relevant assessment year? |  |
Yea. ITR has been filed with income around 20 lakhs but SFT of credit card is reported as 60 lakhs. Is there any issue ? Can I talk to you ? I am worried about consequences
Keep the recors ready .... as replied in another/repeated query...
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