Saturday, 11 February 2017

Cash Transactions 2016 Frequently asked questions.

The Income tax Department has already made its move towards "Clean Money Operation". ITD has started intimating those who have made cash deposits during 9th November 2016 to 31st December 2016 in large amount. Data analytics have been used in selecting such cases. It may be noted that this intimation is not a notice. It is also suggested that, even though one may not have received such information, one should check it through logging in to 

Although the a 10 days period was given to respond, now extension has been granted to submit the response till 15th February 2017. 

Following is the text of Frequently Asked Questions as issued by Income Tax Department.  

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Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their beha...