8 High Value transaction for Income tax Notice | SFT Transaction | Complete Solution

8 High Value transaction for Income tax Notice | SFT Transaction | Complete Solution | By CA Sachin

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Expert CA Sachin (Financial Education)

3 жыл бұрын

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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.

Пікірлер: 486

@ajaykumar-xr1dw 2 жыл бұрын

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,

@expertcasachin 2 жыл бұрын

🙏🏻 best complement Ajay Ji thanks 🙏🏻

@atulnangru862 3 жыл бұрын

Use full information unable to find out any where. Sachin sir is best .

@harihar1232000 2 жыл бұрын

Really wonderful and must follow the rules strictly thanks. 😀😉😀😄😆

@vpsbsnl Жыл бұрын

धन्यवाद सर जी ।बहोत ही सुंदर जानकारी प्रस्तुत कि गई है धन्यवाद सर जी ।🙏

@nancymissfabulous4989 Жыл бұрын

Thanks for sharing nice information & that too in a nice & easily understandable way.

@rjbeckham4786 2 жыл бұрын

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

@expertcasachin 2 жыл бұрын

Thanks 🙏🏻 noted

@lilaramyadav9657 Жыл бұрын

I am very much impressed from your speech. Very good and also thanks for valuable informations

@girishmatte1036 2 жыл бұрын

Perfect Information, Thanks Sir

@blkushwaha58 Жыл бұрын

Well explained in a simple way thanks

@subhashchand8185 3 ай бұрын

सचिन जी आपने बहुत महत्वपूर्ण जानकारियां दी हैं।🎉

@expertcasachin 3 ай бұрын

Thanks sir ji

@pradeepjhunjhunwala5831 Жыл бұрын

बहुत बढ़िया बहुत बढ़िया जानकारी

@budhpriya3517 Жыл бұрын

Sir ji aap top vedio बनाते हो मुझे बहुत पसंद है

@72yogendra 2 жыл бұрын

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

@mukeshkumarjain2583 Жыл бұрын

Sr apka ❤ samjane ka andaj very nice and ur style and voice is very good.

@expertcasachin Жыл бұрын

Oh thanks 🙏🏻🥰

@sushzp Жыл бұрын

Easy , practical and accurate information

@MohdAslam-ow9wc 2 жыл бұрын

Very nice information sir thanks for good information

@bhavyoday7618 2 жыл бұрын

Kindly make one video on how to show PF WITHDRAWAL in ITR. (Both Advance PF withdrawal and Full and Final PF Withdrawal)

@sajauddinpirjade5897 2 жыл бұрын

Sir apka phone no. Dijiye plz

@abhishekgangwarcm1175 2 жыл бұрын

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

@premchandtak9461 Жыл бұрын

Good to hear from you

@inderdevsingh3057 2 жыл бұрын

धन्यवाद।

@princegupta8282 2 жыл бұрын

🙏 Sir your explaination very good on KZfaq in futurewhenever I will open bussinesss first meet you

@expertcasachin 2 жыл бұрын

Thanks 🙏🏻

@prithvisingh2454 Жыл бұрын

Sir, how much amt. I withdraw from all types of accounts including overdraft limit in a FY.

@PB35GAMER 7 ай бұрын

Very informative video and easy style of explaning . Keep up the good work !!🎉

@expertcasachin 7 ай бұрын

Thanks a lot 😊

@sapnachaubey1585 Жыл бұрын

sachin you are outstanding your way of teaching is very different 🙏🙏🙏🙏🙏🙏🙏🙏thankyou very much

@sudiptabrahma2631 2 жыл бұрын

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.

@jadavjagdish1239 4 ай бұрын

Mare massage aavelo sevhi trasion

@sanatanpal1790 2 жыл бұрын

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

@capfoundsociety Жыл бұрын

You are very good and convincing

@kanhaiyachoudhary3714 2 жыл бұрын

Really great sir

@theonlyones-fc2jc Жыл бұрын

Very good info for all Thanks Sachin sir

@saurabhsingh19999 Жыл бұрын

Very informative sir ji 🙏 👍 👏

@NobitaHunMe Жыл бұрын

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.

@jaydeepganguly6144 Жыл бұрын

Sir please make video on carry forward and brought forward TDS in new income tax portal

@pawandeepsingh103 2 жыл бұрын

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

@pkt1504 2 жыл бұрын

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?

@peachincoroporation9816 2 жыл бұрын

Very informative video.

@expertcasachin 2 жыл бұрын

Thanks keep supporting

@rakeshkumar-mh7vx 3 жыл бұрын

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

@gulabbora4133 2 жыл бұрын

Thanks sir

@gatherer532 10 ай бұрын

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 ?

@Yourlastrider 2 жыл бұрын

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

@arkabanerjee1627 Жыл бұрын

V helpful advise

@focus8070 9 күн бұрын

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

@Mlpatel-gc1up 11 ай бұрын

Thanks a lot

@abdheshkumarchoudhary283 2 жыл бұрын

Thanks.

@UmeshNakwal Жыл бұрын

mere kisi relative ne cheque diya usake nam se to rejistration me de sakata hai kya

@Hasan_furniture_electronics 2 жыл бұрын

very knowledgeable video i am fully satisfied

@expertcasachin 2 жыл бұрын

🙏🏻

@sushzp Жыл бұрын

Truely,u r awesome

@pritishahu7843 2 жыл бұрын

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

@47.divyanshuvarsh.82 8 ай бұрын

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

@sulabhapatwardhan2759 2 жыл бұрын

Nice,informetion

@Dwivedisc 2 жыл бұрын

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

@expertcasachin 2 жыл бұрын

Yes if complete tax deducted

@GAURAVSHARMA-on7xv 2 жыл бұрын

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?

@bestofdeepakkalal6333 Жыл бұрын

Hi kya hua fir?

@rameshpatel5843 2 жыл бұрын

Very Good Advice

@expertcasachin 2 жыл бұрын

Thanks dear keep supporting

@eternalaas7075 3 жыл бұрын

Full of knowledge 👍

@iamdhirajdubey 3 жыл бұрын

Itr 3 k filling kaise bhare , ek video esake upar banaye

@maziz6237 Жыл бұрын

Thanks a lot..Brilliant

@expertcasachin Жыл бұрын

Thanks dear keep supporting

@UmeshNakwal Жыл бұрын

manalo mere pas paise hai kisi relative se liye to usaka tax de sakte hai kya

@alokdeb7293 2 жыл бұрын

Congratulations sir

@expertcasachin 2 жыл бұрын

Thanks dear but for what

@majharshaikh6906 2 жыл бұрын

Very good sir

@urmilaurmila7670 2 жыл бұрын

Thanks for Justice

@rankgenerator5742 2 жыл бұрын

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....

@nitinbisht6527 Жыл бұрын

Notice aya kya bhai

@santosharora6029 Жыл бұрын

Very informative 👍

@expertcasachin Жыл бұрын

Thanks dear keep supporting and sharing videos

@VishalGaming-iv9gn 2 жыл бұрын

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.

@expertcasachin 2 жыл бұрын

No issue if u have explanations of 11 lac and sources is genuine

@devidaspanpatte3893 2 жыл бұрын

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

@expertcasachin 2 жыл бұрын

Call on 9319333248

@ManmohanSingh-bu9jm 2 жыл бұрын

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

@expertcasachin 2 жыл бұрын

Share listed or unlisted??

@AjayGupta-re3cj Жыл бұрын

Explained very nicely in simplistic manner

@gaurab197 2 жыл бұрын

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?

@piyushjain4709 10 ай бұрын

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

@surinderkaur-lk6ex Жыл бұрын

Sir,Agar purani fd's break karke new fd banwate h to wo bhi income may show hoga Please reply.

@expertcasachin Жыл бұрын

Yes

@rsgauba7401 Жыл бұрын

Sir please share draft gift deed between children and parents. Shall be grateful

@avi7552 Жыл бұрын

Foreign se kitna money receive ker sakte by Western union???

@ravindranarayane2477 11 ай бұрын

❤❤ very good information ❤❤

@SANJAYKUMAR-hj3yx 2 жыл бұрын

Kindly confirm AIR or AIS for Individual.

@girishmanral3047 2 жыл бұрын

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?

@expertcasachin 2 жыл бұрын

Avoid if possible

@dr.sultanahmed4132 Жыл бұрын

@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

@Raju-ql4mv Жыл бұрын

I regularly watch your KZfaq 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.

@anuragpratimdas Жыл бұрын

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.

@sraj3757 23 күн бұрын

Bahut kam amount hai kuch nhi hoga don't worry

@vidyakedar8767 Жыл бұрын

Nice explanation.

@expertcasachin Жыл бұрын

Thanks 😊

@sachinparmar3752 2 жыл бұрын

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? ?

@expertcasachin 2 жыл бұрын

Yes wife ko hi auga but itr and bank statements apki jaugi as a proof of sources

@expertcasachin 2 жыл бұрын

For more u can call on 9319333248

@RakeshPandey-nk5qe 2 жыл бұрын

Well done

@pankaj5080 Жыл бұрын

Sir Power of Attorney pe property buy karne par bhi IT notice aata hai kya? (Kyonki POA mein toh registry and ael deed hota nahi hai)

@expertcasachin Жыл бұрын

Yes

@pahadi3987 Жыл бұрын

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

@expertcasachin Жыл бұрын

Same fy main

@salamshaktisingh3365 6 ай бұрын

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?

@ashwanicoachingclasses8096 2 жыл бұрын

Sir aap ne Kam salry valon k liye bhi banao

@rakeshkumar-mh7vx 3 жыл бұрын

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

@expertcasachin 3 жыл бұрын

Contact 9319333248 team will do this task

@sunitmukherjee2099 11 ай бұрын

Sir senior citizen k bare me bhi bolia proparty sell or purchase k bare me

@mukesharora9182 2 жыл бұрын

जितना मर्जी टैक्स दे दो सरकारे की भूक कभी कम नहीं होगी.

@prafulkumar7676 2 жыл бұрын

Sir gud morning , circle rate se jayda kitna amount cheque,d.d , online le sakte h ki income tax notice notice na aaye

@expertcasachin 2 жыл бұрын

Jitna marji no issue Kam nahi hona chaiye bus at least

@mktiwari5255 2 жыл бұрын

Sir mere father ne mereko 9 lac diya financial year 2021 me shears me invest ke liye Maine us paise ko savings a/c me deposit Kia aur waha se deamat a/c me transfer Kia aur invest Kia lekin Maine ITR file nahi Kia hai to mere ko Kya Kya problem face Karne pad sakte hai??? Please reply sir🙏

@expertcasachin 2 жыл бұрын

Dear I need discussion and some point call on 9319333248

@user-co8dz8ok9o 8 ай бұрын

Is capital gain exempted on amount received from selling of agricultural land plot?

@expertcasachin 8 ай бұрын

@palakbhatia6804 5 ай бұрын

Thx sr ji mujhe forn se peyse mangane he really brother se 10 lakh .ki proftey khrodni hi kya tex lagegi

@expertcasachin 5 ай бұрын

Query not clear

@mohdsadik7728 2 жыл бұрын

Good video 👍

@expertcasachin 2 жыл бұрын

Thanks dear keep supporting

@amitkhatri8463 2 жыл бұрын

So knowledgeable person your

@expertcasachin 2 жыл бұрын

Thanks

@shortvideosworld21 2 жыл бұрын

@@expertcasachin please help me sir aap sab help nahi karte he please sir madaad kare

@shortvideosworld21 2 жыл бұрын

@@expertcasachin please sir please sir help kare

@expertcasachin 2 жыл бұрын

Kya help ?? At least mention

@shortvideosworld21 2 жыл бұрын

@@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

@aayushkr1062 2 жыл бұрын

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 .

@expertcasachin 2 жыл бұрын

Now yes

@dr.sultanahmed4132 Жыл бұрын

@@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

@expertcasachin Жыл бұрын

Depend on value of share If penny stock yes

@dr.sultanahmed4132 Жыл бұрын

@@expertcasachin Thank you for quick reply, I want to discuss future financial plans also. Can we have one to one chat?

@anilkumbhare5139 Жыл бұрын

Sir , sound Kam lagta hai. Sound clear our Jayda hoga to achha hoga.

@prafulkumar7676 2 жыл бұрын

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

@expertcasachin 2 жыл бұрын

But file itr

@expertcasachin 2 жыл бұрын

Circle rate se kam par notice a sakta hai jada par nahi

@ARVINDVLOG84 2 жыл бұрын

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।

@vishakhajagtap8595 Жыл бұрын

Sir my mother deposited 450000 cash in her Bank account after my fathers Demise.will she get notice from ITR and please suggest solution on this problem

@rameshmate2442 Жыл бұрын

No problem

@mohammadmaqsood7142 2 жыл бұрын

Sir i had deposit 5lakh in my account till now. Now what should I do. And never file itr. 5lakh is my saving of many years.

@ramchandraverma4409 Жыл бұрын

No tension

@sitaramsharma388 11 ай бұрын

Sir, in Itr 2,where we show the money gift received from blood relation?

@expertcasachin 11 ай бұрын

AL schedule

@rsgauba7401 Жыл бұрын

Funds transferred from NRI son to parents through cheque from NRE a/c

@shyamsingh1174 Жыл бұрын

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 .

@expertcasachin Жыл бұрын

Separate But tds kat Lena to avoid any litigation Legally Nahi banta