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

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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.

[@atulnangru862]

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

[@harihar1232000]

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

[@girishmatte1036]

Perfect Information, Thanks Sir

[@blkushwaha58]

Well explained in a simple way thanks

[@nancymissfabulous4989]

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

[@ajaykumar-xr1dw]

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]

🙏🏻 best complement Ajay Ji thanks 🙏🏻

[@vpsbsnl]

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

[@sushzp]

Easy , practical and accurate information

[@lilaramyadav9657]

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

[@pradeepjhunjhunwala5831]

बहुत बढ़िया बहुत बढ़िया जानकारी

[@SunshineCorner577]

Who is looking for= a bungalow worth 100 crores bulldozed by Yogi Ji? That lady Sitalwar is living in 500 crore bungalow? Perhaps that is not covered in 8 transactions.

[@theonlyones-fc2jc]

Very good info for all Thanks Sachin sir

[@budhpriya3517]

Sir ji aap top vedio बनाते हो मुझे बहुत पसंद है

[@MohdAslam-ow9wc]

Very nice information sir thanks for good information

[@premchandtak9461]

Good to hear from you

[@rjbeckham4786]

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]

Thanks 🙏🏻 noted

[@capfoundsociety]

You are very good and convincing

[@inderdevsingh3057]

धन्यवाद।

[@kanhaiyachoudhary3714]

Really great sir

[@subhashchand8185]

सचिन जी आपने बहुत महत्वपूर्ण जानकारियां दी हैं।🎉

[@expertcasachin]

Thanks sir ji

[@saurabhsingh19999]

Very informative sir ji 🙏 👍 👏

[@sapnachaubey1585]

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

[@sushzp]

Truely,u r awesome

[@abdheshkumarchoudhary283]

Thanks.

[@Hasan_furniture_electronics]

very knowledgeable video i am fully satisfied

[@expertcasachin]

🙏🏻

[@arkabanerjee1627]

V helpful advise

[@gulabbora4133]

Thanks sir

[@majharshaikh6906]

Very good sir

[@mukeshkumarjain2583]

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

[@expertcasachin]

Oh thanks 🙏🏻🥰

[@sudiptabrahma2631]

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]

Mare massage aavelo sevhi trasion

[@RakeshPandey-nk5qe]

Well done

[@sulabhapatwardhan2759]

Nice,informetion

[@PB35GAMER]

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

[@expertcasachin]

Thanks a lot 😊

[@urmilaurmila7670]

Thanks for Justice

[@peachincoroporation9816]

Very informative video.

[@expertcasachin]

Thanks keep supporting

[@princegupta8282]

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

[@expertcasachin]

Thanks 🙏🏻

[@Mlpatel-gc1up]

Thanks a lot

[@AjayGupta-re3cj]

Explained very nicely in simplistic manner

[@eternalaas7075]

Full of knowledge 👍

[@rameshpatel5843]

Very Good Advice

[@expertcasachin]

Thanks dear keep supporting

[@ravindranarayane2477]

❤❤ very good information ❤❤

[@AhujaRameshB]

Nice

[@maziz6237]

Thanks a lot..Brilliant

[@expertcasachin]

Thanks dear keep supporting

[@alokdeb7293]

Congratulations sir

[@expertcasachin]

Thanks dear but for what

[@divyaalok5538]

Awesome

[@jaydeepganguly6144]

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

[@santosharora6029]

Very informative 👍

[@expertcasachin]

Thanks dear keep supporting and sharing videos

[@rubeenabano4370]

good

[@bhavyoday7618]

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

[@sajauddinpirjade5897]

Sir apka phone no. Dijiye plz

[@rajeevkumar-ee8mm]

👍👍👍

[@vidyakedar8767]

Nice explanation.

[@expertcasachin]

Thanks 😊

[@rajendragoskula]

Very good 👍

[@expertcasachin]

Thank you very much

[@mohdsadik7728]

Good video 👍

[@expertcasachin]

Thanks dear keep supporting

[@amitkhatri8463]

So knowledgeable person your

[@expertcasachin]

Thanks

[@shortvideosworld21]

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

[@shortvideosworld21]

@@expertcasachin please sir please sir help kare

[@expertcasachin]

Kya help ?? At least mention

[@shortvideosworld21]

@@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

[@arshanali5889]

❤❤❤❤

[@72yogendra]

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

[@iamdhirajdubey]

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

[@anilkumbhare5139]

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

[@sunitmukherjee2099]

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

[@ashwanicoachingclasses8096]

Sir aap ne Kam salry valon k liye bhi banao

[@heypritam]

♥️♥️♥️🙏

[@rsgauba7401]

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

[@mukesharora9182]

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

[@gatherer532]

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 ?

[@abhishekgangwarcm1175]

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

[@SANJAYKUMAR-hj3yx]

Kindly confirm AIR or AIS for Individual.

[@Yourlastrider]

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

[@sanatanpal1790]

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

[@NobitaHunMe]

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.

[@anuragpratimdas]

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.

[@prithvisingh2454]

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

[@pkt1504]

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?

[@rsgauba7401]

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

[@salamshaktisingh3365]

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?

[@47.divyanshuvarsh.82]

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

[@pawandeepsingh103]

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

[@UmeshNakwal]

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

[@Dwivedisc]

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]

Yes if complete tax deducted

[@avi7552]

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

[@SalimKhan-km7gs]

Tell about NRE transaction

[@pritishahu7843]

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

[@rakeshkumar-mh7vx]

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

[@punjabipeople345]

Agar TDS aa gya seller ko return mei mentioned kr diyA & registery next year hoyi toh kyaa Hogaaa seller ka ???

[@UmeshNakwal]

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

[@puneetsaxena7330]

You are not Sachin, but Sachin Tendulkar of Taxation and the savior of innocent ,honest people who inadvertently commit such financial transactions mistakes.

[@expertcasachin]

🙏🏻

[@anjurana1029]

Very useful information

[@raushankumar-bn7fp]

@@expertcasachin sir i have a issue

[@expertcasachin]

Pls ask

[@rankgenerator5742]

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]

Notice aya kya bhai

[@GAURAVSHARMA-on7xv]

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]

Hi kya hua fir?

[@ARVINDVLOG84]

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।

[@harivanshjain2089]

Sir, netao, apraadhio ki transection ki suchnaay kyo ni milti i.tax walo ko,pakdy gaye to salo saal janch Puri ni hoti, aam aadmi ki suchnaa turant mil jati h, action bhi turant hota h

[@RakeshPandey-nk5qe]

How can sft -016 reply?

[@malavraval9648]

Total capital 95 lakh including me and parents.
We do F&O business.
After making certain profit in 1 account that 95L+profit will be transferred in other account again 95L+profit of first account+profit of second account will be transferred in third account.And so on...
Can I get ITR notice for high value transaction?? And yes then by showing source of income(in this case capital is of 3 person) can it create any issue?

[@expertcasachin]

Need discussion dear as some facts require for this

[@surinderkaur-lk6ex]

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

[@expertcasachin]

Yes

[@sachinparmar3752]

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]

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

[@expertcasachin]

For more u can call on 9319333248

[@VishalGaming-iv9gn]

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]

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

[@girishmanral3047]

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]

Avoid if possible

[@pankaj5080]

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]

Yes

[@devidaspanpatte3893]

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]

Call on 9319333248

[@sitaramsharma388]

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

[@expertcasachin]

AL schedule

[@prafulkumar7676]

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

[@expertcasachin]

Jitna marji no issue
Kam nahi hona chaiye bus at least

[@Sevekari277]

... dindorii pranitt jankalyann yojanaa.. Viisit... Shrii Swamii Samarthaa...