Home |Tax returns filing | My cousin sister from Gulf has transferred me ₹3:00 lakh in last FY by installments for her Mother’s treatment. Will there be any implications/query on this from IT dept?

My cousin sister from Gulf has transferred me ₹3:00 lakh in last FY by installments for her Mother’s treatment. Will there be any implications/query on this from IT dept?

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Subin VR, Chartered Accountant,FCA, DISA (ICAI) verified
Answered on May 11,2021

No chance for a query, since it is through banking channel.Please check this video on the consequences of cash deposits in your savings account and the potential threat of inviting an Income Tax Notice and its tax implications.

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