Step-by Step Guide to file online reply / Response to Notice from Income Tax Department in respect of Bank/Financial Account(s) with substantial Cash Transactions
As part of its data matching exercise, Income Tax Department identifies bank accounts of Assessee which have large value cash transactions. The details of such bank account are made available under “Compliance” section of the e-filing portal of the related Assessee. For Such notice PAN holders can submit the on-line response as under:
Step 1: Login to e-filing portal at https://incometaxindiaefiling.gov.in. If you are not registered with the e-filing portal, use the ‘Register Yourself’ link to register.
Step 2: Click on “Accounts with Cash Transactions” link under “Quick link” or “Compliance” section and you will be directed to the “Bank/Financial Account(s) with substantial Cash Transactions” page.
Step 3: View the details of the bank account related to you
Step 4: Submit online response and keep acknowledgement for record
In case you make a mistake in submission of response, you may further revise it by login to e-filing portal.
(Compiled by Taxguru Team)