Large notes banned

Others 357 views 3 replies
Replies (3)

Sunilji, your query also...........b...a....n....n......e........d!!!!

smiley

Dear Sirs,
Just out of curiosity want to ask this that suppose a labour class person who earns in cash an amt of 2lacs (all proofs available) and spends 1lac out of it..thus say for past 4 years he has 4 lacs with him , now as I've  read on all posts he will be left stranded to the amount exceeding 2 or 2.5 lacs.. Now my question is why can't the arguments be that its an individual's wish whether he wants to keep cash with him or deposit in bank. Secondly since the income was below the taxable limit ITR wasn't filed. And lastly say the person never opened a bank account so there was no qurstion of depositing the same.

Or will all such explanations will be just ignored by the AO straightaway.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details