Notice received regarding non pan property Purchase



(Guest)

My cousin received last week a notice from Inciome tax central processing that a property purchased by him in 2014 for amount exceeding 50 lacs is non pan and wheter he owns this proprty transaction or if he  wants to declare it under income disclosure scheme

He made this payment form his bank by breaking his FDR.

However his FDR was built  by cash desposits also in the bank accout over a period of 3 years and exceeded in 2 years more than 10 lacs.

So he is afriad this query may also be raised and whether he committed mistake by depositing cash money with him  in bank 

Why he received this property notcie when it was in order and PAN numbers were already given and transfer tax was also promptly paid.

Property purchase is showing in relevant table in 26as form also now.

There appears to be a limnkage of this with current IDS 2016 being marketed by government

What option he has.

Would like to ask if 

There is anything wrong in depositing cash in his own account and if he has to explain its sources in case same is  pointed by revenue servcie offcials

Can he land in trouble

ofcourse he as confirmed and owned up property trabnsaction to be form his own retunrs.

 
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KVO Merau Kutchh

If the source of the deposits of cash in bank account during the period is authentic, no need to worry at all, but reply to the letter accordingly.

 
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