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ITR notice 133/6 regarding cash deposited need help to sort it out


09-Aug-2023 (In Recovery Law)
Hello Sir, I got notice from Tax dept. they are querying for financial year 20-21. I had not filed my ITR also that time because of some knowledge. where I had deposited more than 10 lakh cash in my saving accounts that time I had financial issue so I swiped my credit cards at petrol pump and got cash then deposited in my bank accounts then paid my credit card bills. I am salaried person annual pack. approx. 3 lakh. I need help how can sort it out this matter.
Answers (2)

Answer #1
663 votes
First of all we will have to read the notice and the allegations or the point of law therein. Second we will have to check your bank statement and your investments. Only after these we will be able to better guide you.
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Advocate Maaz Akhtar

Adv. Maaz Akhtar

LawRato Delhi | 100+ Answers
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Answer #2
996 votes
you would have to explain deposit of 10 lakh in your account. since your salary is much less than 3 lacs and the deposited amount is more than 10 lacs you would have to explain the source of cash. should you have any queries feel free to contact me
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Advocate Kunal Seth

Adv. Kunal Seth

LawRatoDelhi | 700+ Answers
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