Will i get incometax notice ?

[sandeepx0]

I received 2 Lakhs in a single transaction on my current account, will i get incometax notice? (I don't have a proper reason for this transaction)

 

[17ysaurabh]

If you come under the taxable range, then if you didn't declare this amount while filing your income tax, you might.

• Any amount received as a gift of more than Rs. 50k in a year will be charged for tax.
• If you have received this much amount in marriage, then you will not be charged for tax.

 

[anuragmukherjee28]

I received 2 Lakhs in a single transaction on my current account, will i get incometax notice? (I don't have a proper reason for this transaction)

I dont think so have to pay any taxes

 

[T€ja]

If you come under the taxable range, then if you didn't declare this amount while filing your income tax, you might.

• Any amount received as a gift of more than Rs. 50k in a year will be charged for tax.
• If you have received this much amount in marriage, then you will not be charged for tax.

I recently sent my sister to UK, my dad used to send always money to my account by phonepe (where we don't explain the cause of the transaction), as I use to make the on-line transctions on flywire, I've sent till now more than 5 lakh in this semester to her college,


I don't have any income source sir, I'm still In job searching process, do I have to pay any income tax


And is this a bad habit like sending money to someones account in your family with better knowledge on online payments everytime, does it increase his tax liability sir

 

[Gigachad]

I received 2 Lakhs in a single transaction on my current account, will i get incometax notice? (I don't have a proper reason for this transaction)

Ais trigger 10l for savings & 50l for current account.
Should be good.