Respected sir
DOES Notice for the transactions mentioned under CIB is issued only in case of non filing of return or otherwise also..??
Mostly in case of non-filers, but as it involves following causes:
Central Information Branch (CIB)
- CIB- 94: Sale of Motor Vehicle
- CIB-151: Transfer of immovable property
- CIB-154: Transfer of capital assets where value declared for the purpose of stamp duty is more than actual sale value
- CIB-157: Purchase of Immovable property valued at Rs. 5 lakhs or more
- CIB-183: Time deposit of Rs 1,00,000/-
- CIB-185: Purchase of Bank Draft of more than Rs. 50,000/- in cash
- CIB 321: Share Transactions more than Rs. 20,000/-
- CIB-403: Investment in Fixed Deposit/Time Deposit exceeding Rs. 2,00,000/-
- CIB-410: Cash deposit aggregating of Rs 2,00,000/- on a day
- CIB-514: Interest paid by co operative credit Society
After matching the data with filed ITR, if any mismatch found, even ITR filer may also get query.
Which date/AY? Whether ITR filed?
Is it your only cash deposit between 10th November till date, aggregated with PAN.
If the reason of cash holding be justified, no need to worry. Suitable reply (must) be given.
CAclubindia
