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IT Notice under 148a(a) and 148a(b) section for AY 17-18

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Rajib Majumder

65 Points Posted on 26 January 2024

Hello,

I'm a former NRI and recently got an IT notice for 148a(a) and 148a(b) for AY 17-18.

I was a non-resident in AY 17-18.

I did some FDs in my savings account and they asking for the source of funds.

I already replied to the 148a(a) letter myself with a, but I got 148a(b) after that. I think they might not have read the explanaton.

I attached all bank statements they asked in a single pdf and explained the source of funds for the FDs (mostly reinvestment of matured FDs and rest are funded from my NRE account) at the bottom of the pdf.

Please let me know if you can help me on this to reply back to IT dept.

Thanks
Rajib

Replies (2)

Quick Summary

This discussion addresses an IT notice received under sections 148A(a) and 148A(b) for the Assessment Year 2017-18, concerning an individual who was an NRI at the time. The notice questions the source of funds for Fixed Deposits, which were primarily funded by reinvested matured FDs and transfers from an NRE account. The user has already responded to the 148A(a) notice and is seeking guidance on replying to the subsequent 148A(b) notice, including whether filing an ITR via the download utility and attaching the challan is a viable option.