In order to make one time payment in an apartment, I am getting several incoming transaction in range of 2.5L to 5L (NEFT /RTGS) into my savings account. Since I mentioned these are rtgs or neft transactions, these will not be qualified as cash deposits.
Might cumulatively get added to around 50L-60L.
After this I will be transferring to builders account.
Will I come under IT scruitiny ?
what does segregate mean?
For these transaction, will I come under IT lens? I dont know what sort of notices will be shown up. So i am asking here.
| Originally posted by : Poorna | ||
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For these transaction, will I come under IT lens? I dont know what sort of notices will be shown up. So i am asking here. |  |
If it's not Your business or Business Income then No worries.
But, Keep supportive documents against the Payments and Receipts...
| Originally posted by : sabyasachi mukherjee | ||
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Source of such funds. | |
I took them as loan from few people. Do I have to report in my returns?
CAclubindia
