8 High Value transaction for Income tax Notice | SFT Transaction | Complete Solution | By CA Sachin
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- Опубликовано: 12 авг 2024
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In this video Expert CA Sachin explained the following points.
Q1-What are high value transaction for Income tax Notice.
Ans: Total cash deposit exceeds Rs 10 lakh or more in a year in saving account
-Cash deposit or Cash withdraw more than Rs.50 lakhs (ALL CA)
-Cash payment of Rs 10 lakh or more for purchase of bank drafts or pre-paid instrument.
-Mutual funds, Stocks, bond or debenture Rs. 10 lakh limit.
-(listed or unlisted) more than Rs.10 lakhs in a financial year than the Company will report it to Income Tax authority.
-More than Rs.10 lakhs to a credit card company in a financial year than the Credit Card Company will report to Income Tax authority.
-Not cross Rs. 1 lakh limit in cash.
Q2-What is limit for cash deposit for Income tax deposit.
Ans:There is no limit of cash deposit in any account but we need to known the sources of cash deposit like income in cash, property sold in cash etc.
Q3-How Income tax department record high value transaction.
Bank, post office quarterly submit return with our PAN , address and amount with nature of transaction and Income tax department match these details with our Income tax return.
Q4-Who submit our high value transaction to Income tax department.
Bank, post office quarterly submit return with our PAN , address and amount with nature of transaction and Income tax department match these details with our Income tax return.
Q5-How to avoid high value transaction.
Ans: See Video
Q6-How to avoid Income tax notice.
If any one has done high value transaction like cash deposit in saving or current account, property purchased or sale, share purchase or sale show all complete details in the ITR as per record available and showing in 26AS.
Use full information unable to find out any where.
Sachin sir is best .
Sachin Bhai jab tumharey video pahli bar dekhey to bilkul normal laga,lakin ab jab phir sai dekhta hu ,to aisa lagta hai jaisey tumhay apney kanday par batha kar ghumaun,bhai tum bilkul saaf mann sai sab kuch apney hisab sai sahi sahi batatey ho,thanks a lot for this invaluable information aur i should sai invaluable free of cost help,bahut bahut sukariya,bhagwan tumhay bahut taraki day ,tumharey jaisi imandari kisi mai nahi mileygi,
🙏🏻 best complement Ajay Ji thanks 🙏🏻
Really wonderful and must follow the rules strictly thanks. 😀😉😀😄😆
Thanks for sharing nice information & that too in a nice & easily understandable way.
Video banate samay writing board ka pura dikhe to accha rahega.....u should stand either on complete left or complete right so that we can read the board.
Impressive way of teaching...God bless you
Thanks 🙏🏻 noted
धन्यवाद सर जी ।बहोत ही सुंदर जानकारी प्रस्तुत कि गई है धन्यवाद सर जी ।🙏
Perfect Information, Thanks Sir
Well explained in a simple way thanks
I am very much impressed from your speech. Very good and also thanks for valuable informations
Thanks Sachin bhai, your videos are very knowledgeable, some facts are not known to comman man as fix deposit, shears trading, which are not shown in as 26 upto last year.
It's my pleasure 😇
Easy , practical and accurate information
बहुत बढ़िया बहुत बढ़िया जानकारी
Good to hear from you
Very nice information sir thanks for good information
Very good info for all Thanks Sachin sir
You are very good and convincing
🙏 Sir your explaination very good on RUclips in futurewhenever I will open bussinesss first meet you
Thanks 🙏🏻
Sir ji aap top vedio बनाते हो मुझे बहुत पसंद है
धन्यवाद।
Sr apka ❤ samjane ka andaj very nice and ur style and voice is very good.
Oh thanks 🙏🏻🥰
Thanks sir
Really great sir
Kindly make one video on how to show PF WITHDRAWAL in ITR. (Both Advance PF withdrawal and Full and Final PF Withdrawal)
Sir apka phone no. Dijiye plz
Thanks.
Very informative video and easy style of explaning . Keep up the good work !!🎉
Thanks a lot 😊
Thanks a lot
सचिन जी आपने बहुत महत्वपूर्ण जानकारियां दी हैं।🎉
Thanks sir ji
Truely,u r awesome
Very informative sir ji 🙏 👍 👏
V helpful advise
very knowledgeable video i am fully satisfied
🙏🏻
sir mere ais me 72000 deposite ka int dikh raha hai jo ki mujhe int 10/2021 me credit hua hai to kya ay 2021-22 me dikhana padega ya AY2022-23 me dikhana hai
Maine makan kharida registry December 2023 ki hai abhi under-construction hai intrest kat Raha claim kar sakte hain kya is sal ke itr men
Sir please make video on carry forward and brought forward TDS in new income tax portal
Sir, how much amt. I withdraw from all types of accounts including overdraft limit in a FY.
Sir please clarify SFT 002 which is for Savings account which says - Cash deposits aggregating to Rs. 10 lakh or more
in a financial year, in one or more accounts (other
than a current account and time deposit) of a
person.
My question is regarding term "Cash deposit"
Question - This mean only cash deposit that is physical cash not NEFT/RTGS ? , if someone transfer 20Lakhs to my saving account via NEFT/RTGS will that be reported under this SFT ?
Nice,informetion
Aur property kharidne yaa bechne ke baad address change kar liya to IT notice ka kya hoga? Kyonki wo kahan rah raha hai, kam se kam 1 saal tak to pata hi nahin chalega. Aur PAN surrender karne ka bhi kuchch process to hoga, please batayein?
Very informative video.
Thanks keep supporting
Thanks for Justice
Very good sir
Congratulations sir
Thanks dear but for what
Please reply sir one question property amount 65L and pesa 6-7 accounts me hai toh kya multiple DD de dakte hai vo sai rahega ? Aur registery me multiple DD show hoga toh koi income tax ka issue toh nhi kindly give suggestions on this.
Sur can I know accordingly to property the amount of one registry is 30 lac or all registry amount total 30 to report income tax by registrar
Full of knowledge 👍
Very Good Advice
Thanks dear keep supporting
Sir, mera 8lakh ka fd tha 4bank me usmese ak fd 2lakh ka close hokar account me credit hogeya fir same day same bank same savings account me kiya he o Fd 10 lakh me count hoga? Or sir mera income source me last 4 year se gulf me reheta hu. Mera kohi ITR nahi he or mera savings account he me either se remittance karta hu mera account me. Mera notice aasakata he? Please reply me sir
Well done
Thanks a lot..Brilliant
Thanks dear keep supporting
sir meri annual income last 3-4 years ki 7-10 lakh h aur total cash m hoti h saving account m 10 lakh wali limit bhe cross nhi hoti kabhi same account m fixed deposites bhe h arround 4-5 lakh but m meri itr file nhi krta kya notice aa skta h mujhe kuch years m ya safe hu ...ITR file iss liye nhi krta kyuki cash income ka source registred nhi h
mere kisi relative ne cheque diya usake nam se to rejistration me de sakata hai kya
Kindly confirm AIR or AIS for Individual.
Source of income records is a must, avoid high value transactions and file ITR carefully and check with 26AS and TIS and AIS. Thanks Sir.
Mare massage aavelo sevhi trasion
Sir Mere papa ke account me 488800 rupay unke dost ki agriculture income aayi h aur mere papa ki income only 80000per year h, unke dost ki income ke 6-R Hamare Pass Hai, Kya isse hame koi dikkt aayegi? Aur ye income papa ki itr me kis trah show kri jaye
Or mujhe kya krana chye main redymade garment ka shop open Krna chata hun or aap ke help line no me mai project report prepare ke liye baat kiya tha , sir new business start krne ke liye itr ka documents hona jaruri hai
Some where last year I come across anews item
That sr. citizen who has income
from pension and interest from deposit are not required to file return, becauses salary and itrrstt sf
Yes if complete tax deducted
❤❤ very good information ❤❤
Nice
Very informative 👍
Thanks dear keep supporting and sharing videos
good
Awesome
Sir please share draft gift deed between children and parents. Shall be grateful
sir mere husband 15 lakh ki property lena chate h but 50 percent money unki h and 50 percent mere father mujhe gift karenge and registry mere naam s karwana chate h to hume itr m show krna padega kya husband under 2.5 lakh itr bharte h but meri koi income nhi to me itr nhi bharti to fir husband ki itr m registry show krni padegi kya
Sir agar mai aapne card se 20 lac spend karu or uski emi 24 month ki karva du 83k ki or mai aapne card ka settlement krva lu tho bhi income tax ka koi notice aayega kya?
Plz reply
Foreign se kitna money receive ker sakte by Western union???
manalo mere pas paise hai kisi relative se liye to usaka tax de sakte hai kya
So knowledgeable person your
Thanks
@@expertcasachin please help me sir aap sab help nahi karte he please sir madaad kare
@@expertcasachin please sir please sir help kare
Kya help ?? At least mention
@@expertcasachin mere sath fraud hua tha but mai complain kar raha hu to pdf nahi le raha he please help aur submit nahi le raha he aap mera complain kar sathe he
Hello sir
Mera sbi saving account h or digital payment transaction in July to September 23 lack k around ho gya h isme cash depoist 3 lack h or total amount 26 lack ho gya h credit or debit dono count karke kya kru sir?
Hi kya hua fir?
I had agriculture land which converted in to non agriculture for plot purpose in 2021 now in March one plot sold out asper government minimum rates how tax liability will count
Call on 9319333248
Funds transferred from NRI son to parents through cheque from NRE a/c
Sir we are buying a property my mother is pensioner and I make a transaction in her account of more than 11 lakh and she also take a loan of 20 lakh for property purchase so in that case does she face any problem.
No issue if u have explanations of 11 lac and sources is genuine
Agar TDS aa gya seller ko return mei mentioned kr diyA & registery next year hoyi toh kyaa Hogaaa seller ka ???
Nice explanation.
Thanks 😊
👍👍👍
Sir, I made a credit of 11 lakhs and a debit of 11 lakhs through an UPI self transfer from one account to another in one financial year. Will I receive an income tax notice?
After my fathers demise , I have inherited few Mutual fund investments which have been reported as SFT - 010 in my Form 26AS.
How do I factor this in my ITR filing ?
In other words , How do i show this ? These are all inherited Mutual funds ? How do I get this solved?
No issue, this will increase your capital in capital account and another in balance Sheet mutual Fund also add in your Current Assets or Investment
Good video 👍
Thanks dear keep supporting
Itr 3 k filling kaise bhare , ek video esake upar banaye
Sir agar property ki payment husband ne ki aor property ki registry wife ke naam h to wife ke 26AS me show hoga high value txn .. iska mtlb agar baad me notice aayega to wife ko aayega? Wife apni itr ke according response degi ya fir husband ke itr k according? ?
Yes wife ko hi auga but itr and bank statements apki jaugi as a proof of sources
For more u can call on 9319333248
Sir, if I have purchased shares about 10 to 20 years bac k and I am not aware about the price. Now I want to sell them how can the profit be shown in Income tax return. Pl clarify
Share listed or unlisted??
Is capital gain exempted on amount received from selling of agricultural land plot?
No
Blood relation se bahar gift deed par kya gift lene wale ko tax padta hai agar han to kb kya usi financial year me ya jab bechega tab please bataye sir
Same fy main
@Expert CA Sachin (Financial Education)
Sir, if I sell share of A company and with that money purchase share of another company within a week then also will it come under scrutiny?
I am doing this since 5 years but never took money out of my demate account to bank account.
Kindly help me
I regularly watch your RUclips channel. I watch many channels on income tax matters. I would like to ask you a question. You had stated that as per Income tax Act the maximum amount that can be kept in savings bank account is Rs.10 lakhs. If the amount that is credited in my savings bank account is Rs 1700000/- and the amount involved is not cash deposit but by way of cheque/dd or by electronic transfer then also is there possibility that I may receive notice from Income tax Department ? can you answer my query.
Sir , you told investment in equity share and mutual fund more than 10 lakh financial year in single company cab be tracked, but if I invest 10 lakh in 4 companies of 2.5 lakh each ,is it also come in radar .
Now yes
@@expertcasachin if I sell share of A company and with that money purchase share of another company within a week then also will it come under scrutiny? Kindly help me
Depend on value of share
If penny stock yes
@@expertcasachin
Thank you for quick reply,
I want to discuss future financial plans also.
Can we have one to one chat?
If we purchase the joint name property as wife and husband under 50 lakh and pay both fifty fifty, in this case it will be considered separately or what will be happen .
Separate
But tds kat Lena to avoid any litigation
Legally Nahi banta
Sir, I have 4 bank accounts. I deposited total 4+ lacks cash in F.Y. 2021-22. The money is not my earning. I collected it from my parents and send to another person. I have submitted ITR of 26,450 which is my actual earning. Is this okay that i have showed my income less than the actual cash deposited in my account.
Bahut kam amount hai kuch nhi hoga don't worry
Sir gud morning , circle rate se jayda kitna amount cheque,d.d , online le sakte h ki income tax notice notice na aaye
Jitna marji no issue
Kam nahi hona chaiye bus at least
Very good 👍
Thank you very much
How can sft -016 reply?
Explained very nicely in simplistic manner
Sir,Agar purani fd's break karke new fd banwate h to wo bhi income may show hoga Please reply.
Yes
Dear sir , main mudra loan lena chata hun or jab main apne home branch cbi me branch manager ko mila o bol rahe hai aapko itr ka documents bhi submit Krna hoga sir , but main new business open Krna chata hun mera koi exciting business nahi hai jise ki mai itr ka documents show kar saku , sir aap mujhe bataye mujhe kya karna chye
Contact 9319333248 team will do this task
Question - if I bought Flat more than 30 lakh and didn't file ITR, then notice would come only to 1st applicant or to 2nd applicant also ????
Can come to both depend on income tax department
@@expertcasachin matlab ho sakta hai Notice kisi ko bhii na aaye.... Sab IT department ke mood pe hai 😀
😉 yes unke system ke mood par
Sir, in Itr 2,where we show the money gift received from blood relation?
AL schedule
अगर CSC DIGIPAY या PAYNEARBY AEPS द्वारा बैंक CA AC का ट्रांजेक्शन 1 करोड़ से 2 करोड़ हो जाती है। जो बैंकिंग सर्विसेज है। और कैश न लेकर मोबाइल या नेट बैंकिंग द्वारा पैसा ग्राहक को AC में जमा किया जाता है। क्या इसमे कोई परेशानी है, सरजी बताएं।
Sir senior citizen k bare me bhi bolia proparty sell or purchase k bare me
♥️♥️♥️🙏
Sir main online transaction 20lac tak kar liya hoon(cash nahi tha 1 rs bhi) jisme logo ka crypto buy kar k transfer karta tha.....
Mujhe 5 se 10℅ milta tha to kya ispe bhi department ki nazar hogi....
Notice aya kya bhai
Sir Namaskaar
Maine home ke saath renovation loan bhi lena hai 40 lakh home loan aur 50 lakh renovation loan
Main registry ke baad renovation loan jo mere account Mai bank se aaya hai usko cash Mai withdraw Kar sakta hoon ? Koi limit toh nahi hai?
Avoid if possible
Sir gud evening , Sir ek property ka circle rate 15 lakh h , total cost h 27 lakh , total payment (27lakh) by cheque, d.d, on line received karne per koi income tax notice aayega plz help
No
But file itr
Circle rate se kam par notice a sakta hai jada par nahi