Notice

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Dhokane Ravindra (Querist)
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14 February 2017 Dear Sir,

I have received notice for A.Y.2015-16 . The reason for such notice is cash transaction exceeding Rs .1000000. I have give compliance online . Please give me answer. Business- Milk Dairy . Transaction as per bank statements above 1 cr.All the payment received cheque or RTGS.Please give me solution as early as possible.

Sandeep Sankaran

Sandeep Sankaran (Expert)
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14 February 2017 1) Whether you have filed the return of income?
2) Whether the cash deposits have been considered while filing return?
3) What is the reply you gave for compliance?
4) Normally, such notice comes for cash deposits in Savings Account and the account holder has not filed return of income or the income declared in return does not substantiate the cash deposits.