Go AD-FREE with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Rtgs - demonetization

201 views 1 replies

Guest

After 9 Nov 2016, I have redeemed equity Mutual funds units of value more than 5,00,000 and the same amount is deposited in my savings bank account which is linked to the trading account through RTGS and NEFT. After couple of days the for entire amount I have purchased liquid Mutual funds and the entire amount got debited. Whether IT department scrutinize the above transaction using termis and conditions which are applicabe during demonization period from Nov 9 to Dec 30 - 2016.

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208785 Points Joined July 2016

The MF transactions are through banking channels, while IT department is keeping eye on cash deposites during the period. Any letters served by department presently are for query for the source of the funds deposited.

So, you may not get any such letter, but God forbid, even if you get any such query by mistake, you have to just reply along with redemption statement of the MF.