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Mahesh Narain Singh

Got a Notice Today having Sub:- Requisition of information u/s 131 (1A) of Income Tax Act The Assistant Director of Income Tax(Inv.) has asked for brief summary about myself and my family along with their PAN, Age, Relationship with me, whether dependent or independent and details of their income tax return filed so far. He has also asked to furnish details of all my bank accounts and my family members' bank account. Details of all moveable and immoveable properties in my name or my family member's name. If failed to produce, penalty proceeding u/s 272A may be initiated. I wanted to ask: What might be reason behind this notice? & Is there anything serious or anything to worry?

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Vishal

I own a apartment flat in bangalore which I want to give on rent. The flat is in my name and registered to my PAN number. I have another HUF PAN card for my family. Is there a way I can display my rent income to the HUF PAN card.

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Anil Singh

Can we receive cash above 200000/- in one financial year from a single party