CA. PRAMOD JAINFCA, FCS, FCMA, LL.B, MIMA, DISA

CA. PRAMOD JAINFCA, FCS, FCMA, LL.B, MIMA, DISA

LUNAWAT & CO.Chartered Accountants

LUNAWAT & CO.Chartered Accountants

RESPONDING TO RESPONDING TO RESPONDING TO RESPONDING TO

CASH DEPOSITS DURINGCASH DEPOSITS DURINGCASH DEPOSITS DURINGCASH DEPOSITS DURING

DEMONETIZATIONDEMONETIZATIONDEMONETIZATIONDEMONETIZATION

RESPONDING TO RESPONDING TO RESPONDING TO RESPONDING TO

CASH DEPOSITS DURINGCASH DEPOSITS DURINGCASH DEPOSITS DURINGCASH DEPOSITS DURING

DEMONETIZATIONDEMONETIZATIONDEMONETIZATIONDEMONETIZATION

ONLINE RESPONSE SHEETONLINE RESPONSE SHEETONLINE RESPONSE SHEETONLINE RESPONSE SHEET�Information from Bank / Information from Bank / Information from Bank / Information from Bank /

Institution Institution Institution Institution

�5 points 5 points 5 points 5 points

�If related to PAN If related to PAN If related to PAN If related to PAN –––– go furthergo furthergo furthergo further

�If not related If not related If not related If not related –––– click not related to this click not related to this click not related to this click not related to this

PANPANPANPAN

�Explanation of Cash DepositExplanation of Cash DepositExplanation of Cash DepositExplanation of Cash Deposit

�Divided in Part A & Part BDivided in Part A & Part BDivided in Part A & Part BDivided in Part A & Part B

Lunawat & Co.

PART APART APART APART A

�5 points5 points5 points5 points

�4. 4. 4. 4. ---- Cash Deposited in a/c between 9th Nov Cash Deposited in a/c between 9th Nov Cash Deposited in a/c between 9th Nov Cash Deposited in a/c between 9th Nov

2016 & 30th Dec 2016 (as reported)2016 & 30th Dec 2016 (as reported)2016 & 30th Dec 2016 (as reported)2016 & 30th Dec 2016 (as reported)

�5. 5. 5. 5. –––– Cash Deposited in a/c Cash Deposited in a/c Cash Deposited in a/c Cash Deposited in a/c between 9between 9between 9between 9thththth Nov Nov Nov Nov

2016 & 302016 & 302016 & 302016 & 30thththth DDDDec 2016 (as confirmed by ec 2016 (as confirmed by ec 2016 (as confirmed by ec 2016 (as confirmed by

depositor)depositor)depositor)depositor)

�Fill Fill Fill Fill the 5the 5the 5the 5thththth point with remarks where point with remarks where point with remarks where point with remarks where

required. required. required. required.

�Cash deposited on 8Cash deposited on 8Cash deposited on 8Cash deposited on 8thththth November 2016November 2016November 2016November 2016

�Cash deposited in new currencyCash deposited in new currencyCash deposited in new currencyCash deposited in new currency

Lunawat & Co.

PART BPART BPART BPART B

1.1.1.1. Cash out of earlier income or Cash out of earlier income or Cash out of earlier income or Cash out of earlier income or

savingssavingssavingssavings

� Earlier year or Current year?Earlier year or Current year?Earlier year or Current year?Earlier year or Current year?

� RsRsRsRs. 2.50 / . 2.50 / . 2.50 / . 2.50 / RsRsRsRs. 5 Lakhs . 5 Lakhs . 5 Lakhs . 5 Lakhs –––– not for shell a/not for shell a/not for shell a/not for shell a/cscscscs

� For excess AO to compare past ITRs if anyFor excess AO to compare past ITRs if anyFor excess AO to compare past ITRs if anyFor excess AO to compare past ITRs if any

� If business and books maintained If business and books maintained If business and books maintained If business and books maintained –––– balbalbalbal

as on 31.3.2016. Increase in revised as on 31.3.2016. Increase in revised as on 31.3.2016. Increase in revised as on 31.3.2016. Increase in revised

return to be verifiedreturn to be verifiedreturn to be verifiedreturn to be verified

� Amount declared under IDS 2016Amount declared under IDS 2016Amount declared under IDS 2016Amount declared under IDS 2016

Lunawat & Co.

PART BPART BPART BPART B2.2.2.2. Cash Cash Cash Cash out of receipts exempt from out of receipts exempt from out of receipts exempt from out of receipts exempt from taxtaxtaxtax

1.1.1.1. Agriculture / Sale of personal assetsAgriculture / Sale of personal assetsAgriculture / Sale of personal assetsAgriculture / Sale of personal assets

2.2.2.2. Evidence could be requiredEvidence could be requiredEvidence could be requiredEvidence could be required

3.3.3.3. Cash withdrawn from Bank Cash withdrawn from Bank Cash withdrawn from Bank Cash withdrawn from Bank AccountAccountAccountAccount

� Earlier year or current yearEarlier year or current yearEarlier year or current yearEarlier year or current year

� Time gap Time gap Time gap Time gap –––– normal human behaviour & specific normal human behaviour & specific normal human behaviour & specific normal human behaviour & specific

circumstancescircumstancescircumstancescircumstances

4.4.4.4. Cash received from identifiable persons Cash received from identifiable persons Cash received from identifiable persons Cash received from identifiable persons

(with PAN(with PAN(with PAN(with PAN))))

� Gift Gift Gift Gift –––– S. 56 (2)S. 56 (2)S. 56 (2)S. 56 (2)

Lunawat & Co.

PART BPART BPART BPART B5.5.5.5. Cash received from identifiable persons Cash received from identifiable persons Cash received from identifiable persons Cash received from identifiable persons

(without PAN)(without PAN)(without PAN)(without PAN)

6.6.6.6. Cash from Cash from Cash from Cash from unidentifiable unidentifiable unidentifiable unidentifiable personspersonspersonspersons

� Cash salesCash salesCash salesCash sales

� Loans received in cashLoans received in cashLoans received in cashLoans received in cash

� Loan repayment in cashLoan repayment in cashLoan repayment in cashLoan repayment in cash

� Gift received in cashGift received in cashGift received in cashGift received in cash

� Donation received in cashDonation received in cashDonation received in cashDonation received in cash

� Other Cash ReceiptOther Cash ReceiptOther Cash ReceiptOther Cash Receipt

7.7.7.7. Cash under PMGKD 2016Cash under PMGKD 2016Cash under PMGKD 2016Cash under PMGKD 2016

Lunawat & Co.

CASH SALESCASH SALESCASH SALESCASH SALES

�AO to seek information to identify AO to seek information to identify AO to seek information to identify AO to seek information to identify

preliminary suspicion of back dating preliminary suspicion of back dating preliminary suspicion of back dating preliminary suspicion of back dating

of cash sales or fictitious sales:of cash sales or fictitious sales:of cash sales or fictitious sales:of cash sales or fictitious sales:

�Monthly salesMonthly salesMonthly salesMonthly sales

�Stock register Stock register Stock register Stock register –––– no stocks, fictitious no stocks, fictitious no stocks, fictitious no stocks, fictitious

purchases?purchases?purchases?purchases?

�Abnormal jump in salesAbnormal jump in salesAbnormal jump in salesAbnormal jump in sales

�More than 1 deposit ???More than 1 deposit ???More than 1 deposit ???More than 1 deposit ???

�Transfer of cash to other account not in line Transfer of cash to other account not in line Transfer of cash to other account not in line Transfer of cash to other account not in line

with past history??with past history??with past history??with past history??

Lunawat & Co.

FILINGFILINGFILINGFILING�Amount can be from more than one Amount can be from more than one Amount can be from more than one Amount can be from more than one

sourcessourcessourcessources

�Verify the transactions and documents Verify the transactions and documents Verify the transactions and documents Verify the transactions and documents

before replyingbefore replyingbefore replyingbefore replying

�Avoid retraction Avoid retraction Avoid retraction Avoid retraction or change after or change after or change after or change after

submission submission submission submission

�Get the home work done well in Get the home work done well in Get the home work done well in Get the home work done well in

advanceadvanceadvanceadvance

�Revision allowedRevision allowedRevision allowedRevision allowed

Lunawat & Co.

FURTHER ACTIONFURTHER ACTIONFURTHER ACTIONFURTHER ACTION�Additional Information may be asked Additional Information may be asked Additional Information may be asked Additional Information may be asked

if required. Mostly online enquiries.if required. Mostly online enquiries.if required. Mostly online enquiries.if required. Mostly online enquiries.

�AO to record acceptable or nonAO to record acceptable or nonAO to record acceptable or nonAO to record acceptable or non----

acceptableacceptableacceptableacceptable

�NonNonNonNon----acceptable to be escalated. acceptable to be escalated. acceptable to be escalated. acceptable to be escalated. ––––

133(6) / 133A133(6) / 133A133(6) / 133A133(6) / 133A

�AO to send letters where no response AO to send letters where no response AO to send letters where no response AO to send letters where no response

submitted (other than where survey submitted (other than where survey submitted (other than where survey submitted (other than where survey

is contemplated)is contemplated)is contemplated)is contemplated)

Lunawat & Co.

CLOSURE OF CLOSURE OF CLOSURE OF CLOSURE OF VVVVERIFICATIONERIFICATIONERIFICATIONERIFICATIONApproving Authority

Approving Authority

Approving Authority

Approving Authority

Delhi, Mumbai, Kolkata, Delhi, Mumbai, Kolkata, Delhi, Mumbai, Kolkata, Delhi, Mumbai, Kolkata, Chennai, Bang. Pune, Chennai, Bang. Pune, Chennai, Bang. Pune, Chennai, Bang. Pune,

Hyd., & Hyd., & Hyd., & Hyd., & AhdAhdAhdAhd....

Below Below Below Below RsRsRsRs. 25 Lakhs . 25 Lakhs . 25 Lakhs . 25 Lakhs ––––Addl. CIT / JCITAddl. CIT / JCITAddl. CIT / JCITAddl. CIT / JCIT

RsRsRsRs. 25 Lakhs & above . 25 Lakhs & above . 25 Lakhs & above . 25 Lakhs & above ––––Pr. CITPr. CITPr. CITPr. CIT

Other PlacesOther PlacesOther PlacesOther Places

Below Below Below Below RsRsRsRs. 10 Lakhs . 10 Lakhs . 10 Lakhs . 10 Lakhs ––––Addl. CIT / JCITAddl. CIT / JCITAddl. CIT / JCITAddl. CIT / JCIT

RsRsRsRs. 10 Lakhs & above . 10 Lakhs & above . 10 Lakhs & above . 10 Lakhs & above ––––Pr. CITPr. CITPr. CITPr. CIT

Lunawat & Co.

CA. Pramod JainCA. Pramod JainCA. Pramod JainCA. Pramod Jainpramodjain@lunawat.compramodjain@lunawat.compramodjain@lunawat.compramodjain@lunawat.com

+91 9811073867+91 9811073867+91 9811073867+91 9811073867

© 2017 CA. Pramod Jain, Lunawat & Co© 2017 CA. Pramod Jain, Lunawat & Co© 2017 CA. Pramod Jain, Lunawat & Co© 2017 CA. Pramod Jain, Lunawat & Co