How to Explain Cash Deposited in A Bank Account | CA Anoop Bhatia

Indian government is useless, why all this not taught in school, I landed in trouble because I didn't know all this

Sir, can I deposit Demand Draft of 25 lakhs given by someone on my name? Will I still get notice from Income Tax?

My father and grandfather had some FDs around 40 lakhs. We withdrawed these FDs from bank in between November 2021 to October 2022 to built our new house.

Sources of FD (Father- Sold Agricultural Land i.e. exempted from tax in 2013)

Grandfather FD (Pension)

Now the left over money after construction of house has been completed around 13 lakhs we have deposited in my mother's bank account in Dec 2023 - January 2024 (10 lakhs leftover from FDs + 3 lakhs exempted income from agricultural land)

In short we are depositing the cash back after a gap of 1.5 years by having genuine sources.

And in the upcoming 2023-24 ITR which will be filed in my mother's name I will mention these genuine sources but as there is a difference around 1.5 years. Will that be okay ? New house took time to build. Yes I agree we were sitting on cash but I as I told you only 10 lakhs is left over from FDs. I am sure around or more than 10 lakhs was withdrawed after March 2022 i.e. in FY 2022-23

So for 10 lakhs these are two subsequent years i.e. withdraw in FY 2022-23 and deposited in 2023-24

Sources are genuine but there is time gap. Is this justified if in future we get any notice ?

Bhae jaldi jaldi bola keo

Ban k shouldn’t allow to accept cash which is more why they allow and why Govt send notices People are not aware of all these …. govt is really bad

Hi My mom without awareness She deposited cash in bank After 10 years they sent a notice to prove Cash deposit How can we prove this case My mom sold property They gave some cash How can we provide proofs now Can you please let me know Thanks

when accepting cash more then 20 thousand is prohibited then how would the source justification help

So the conclusion is that the tax officer wont accept any reasons he is interested to issue you a penalty, and banks are allowed to take cash to prove a person wrong later on

In a case, source of income is dairy income during demonetization and paid 18.5 lakhs what and how to answer. I have no invoice for dairy mil selling

G.N. Ghorpade (Huf) vs Dy. Cit on 24 December, 1999 Sir Inam land judgement please make video on this issue thank you

Hello Sir, I have cash deposit of 83 lacs. I have source of income as NRI. Can I have your number please? I want to discuss about my cash deposit.

we deposited cash 18L into a savings account, this was obtained by selling the land property. the buyers gave this as cash, and now I received an email from the Incom Tax department, I don't live in India, can I ignore this email?

Isn't depositing cash is violation of section 269ST ?

Namaste sir
Is it possible that when dept serves 148A to assessee and assessee files offline return (although it is invalid) before issuing 148 and pays his due tax liability to the govt account. In that case penalty will be levied by AO when 148 opens for underreporting or misreporting

Very informative sir , 🙏

Thank you sir for the knowledge giving.