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Cash deposit

Others 523 views 12 replies

Hiee,

My client deposited 2,35,000 (two lac thirty five thousand) during 09-11-2016 to 31-12-2016. In income tax returns it is mentioned that cash deposited should be less than or equal to 2 lac. How to show in return and how to solve this problem . Please someone help me .

Replies (12)
show exact amount deposited in cash in specified time
Than if Query raised in form of Notice of Show Cause than have to be ready for Justification of Source of Income and Saving In Cash Available
In tax returns it is mentioned as cash deposited equal to or MORE THAN Rs 2 lakh and not LESS than it. Please read the requirement once again.
so if someone deposited less than rs 2 lakhs than what to filled in that column?
Nothing if blank field is not allowed then 0
Put Nothing
as if U Put zero. it's attarct litigation

don't put any thing if less than 2 lac
it doesn't not bar submitting return

thank u all people for the reply....if i put more than 2 lac amount is there any chances of getting show cause notice ..

The department has already issued notices to almost 18 lakh assessees who had deposited more than Rs 5 lakh in the mentioned period. There may be chances of receiving notices and it cannot be ruled out. Department is sending notices to those after in depth analysis of the assessee finance or tax background. More so over if any deposit has been made for more than Rs 2 lakh you must report it because department has already this inforinformation and hiding may invite problem in future.

where to update/mention/provide details for cash deposition in ITR ??

 

in the ITR where bank details are asked

thank you poltu for ur information its really very helpfull for me..i am really very thankfull

It's my pleasure.

thank you for the information provided on the matter....


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