Dear Sir,
One of my friend received a notice under IT act 142 (1) for depositing cash in Fy 2014-15. It is related to his NRE fund transfer online thr NRO account to his Indian Friend and Close relatives. . How we should answer for this notice.
What we should reply against the notice 142(1)
Replies (2)
Quick Summary
As per requirement. he should file return (even if already filed) supporting the cash deposits events, and any additional documents or details as asked in the notice, within specified time.
After filing of ITR u/s. 142(1), there are chances of notice u/s. 143(2) of the act, for scrutiny assessment, if any information is sought by A.O from the documents and information submitted by you. Otherwise if the return is filed as per satisfaction to the query, no further action will be taken.
I would suggest to get professional help for the issue.
SCRUTINY ASSESMENT IS NOT UNDER sec 143(1)
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