Filling of Income tax return

Please suggest me how to I file my ITR I do many many money transfers amounting to Rs 20 Lac and above
I received a notice regarding filling of income tax return
Replies (6)
Quick Summary
This discussion addresses a user who received a notice to file their Income Tax Return (ITR) due to significant money transfers of over Rs 20 lakh. While the user initially believed their transfers alone necessitated filing, the advice clarifies that ITR filing is primarily based on income exceeding Rs 2.5 lakh. However, large cash withdrawals or deposits (over Rs 1 crore) in bank accounts can trigger mandatory filing or TDS deductions, linking money transfers to ITR obligations in specific scenarios.

Yasir

Notice under which section...
then I can tell you.
ध्यान दें (PAN ANNPXXXX8C), वित्तीय वर्ष 2018-19 का आयकर रिटर्न (ITR) दाखिल नहीं करने के लिए आपके PAN को चिह्नित किया गया है। कृपया अपना ITR दाखिल करें या Compliance Portal(CP) पर ऑनलाइन प्रतिक्रिया दर्ज करें। efiling Portal(My Account) पर लॉग-इन कर के Compliance Portal में प्रवेश करें। -आयकर विभाग
Mere money transfer is not a basis to file ITR.

Income Tax Return has to be filed if there is income exceeding 250000/-.

Login to your account and submit a response to complicate..
Transfer of funds has no connection with notice...
If u disclose correctly as income in your returns...

transfer of funds is connected to filing of ITR in the following cases : 

1. where a person has withdrawn FROM  bank account(s) more than Rs. 1 cr in the preceding FY then TDS shall be deducted by the Bank over and above Rs. 1 cr @ 2% u/s 194N 

2. where a person  deposited in a current account(s) more than Rs. 1 cr in a Bank then in such a case filing of ITR is mandatory . 

@ naveen
this section has been introduced recently.


but yasir

has not mentioned that in his query.


So superfluous information is not to be given to him.
The query has not asked for it.
pls remain within the query.
for business purpose one can withdraw money to the limit specified in the last finance budget 2019..
You can get credit after filing returns .

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