Got Income tax notice

what will they do if you do not submit any documents ?
have they made any tax demand ?
talk to a CA in this matter.

@suplex_city @taujipanipat93 CA wale log

Volume of transactions you’ve done recently? Want to understand how it must’ve been triggered

I received service tax notice on 20th Nov and I gave them everything they asked.

If I were you, I wouldn’t take it lightly and give them every document they asked or they may need. It’s also best for you if you can find some relative in the IT office.

Yes, you will have to give the statements of accounts that are closed too. You can go to the bank and ask them, they will give it to you.

Don’t worry, it wont take a year because you will be asked to pay them some bribe based on how much you are into this mess.

@TEMPER What is the nature of your employment? Like Software Engineer, Production, Marketing?

one of my bro told that no need to worry.. this many statements to check it will take tym. max they will avoid unless my transactions looks more suspicious..almost my kotak 811 account for 2017-18 has 361 pages 🤣

U r doing money rotation since 2011?? I think mostly money rotation through debit cards comes mostly 2015-16& 17-18. So, why they asked statements from 2011? What is subject of mail? Can u send me ss in pm by erasing name & other details. I had also rotated money from dbs-kotak to other bank dc daily upto 50 k for about 2 years. Now its stopped completely. But i think its flaw in their system & income tax cant demand tax on this.

When i went to CA for file return, he asks me my bank statements but i’m afraid because of this too much transactions. I filed return by myself.

I has only sbi account from 2011.. but that was closed.. i have opened accounts from 2k15.. I will provide only those docs to him.. all around approx 900 pages. I will go n submit on dec 31st or Jan 1st..

Dear seniors
What should we the beginners n juniors learn from ur experience? Shouldn’t we do these upi offers?
I m a student..have a saving account and does upi offers which comes in paytm freecharge google pay phonepe which mostly involves upi txn and create lengthy statements…also some offers where we add money in vc n use somewhere like that…should we stop this?

I do a lot of credit card to bank account rotation and then pay off CC bill from debit card. Will this attract IT attention?
PS: My cc and dc both have good reward system.

submitted docs…. they asked me sumbit closed bank docs.. If I cant they asked to me proved branch details so that they will get it seems… RBL bank 1 yr ba ck in 6 month I have done around 68lk transactions.. they are asking source of income for that.. and I told them that I paid cc bill and withdrawn vila payzapp ( at that time no kfc needed. we can add 20k and free imps to hdfc bank) .. I told them for reward points and annual fee waiver I have done those transactions.. Finally they told to hire income tax practitioner and ask him to give cashflow statement for these transactions .. and they also told don’t give statement like this kind of rotations you got some benefit .. simply mention that to keep credit cards active you have done these transactions .. Its not a problem but don’t keep to many bank accounts for free rewards or cashback like thet he told..

Is it solved now?

@sgpgdk482

@temper did it resolved? I’ll also get notice too soon.

Any update?

I didn’t got any call from them, even i dint call them, , so pls dont bump this thread.. if any further update, i vl post here.. thnx

Wat is money rotation?

If i transfer money from one saving accnt to other of mine using imps…is it a problem?