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2000 Note: Rs. Attention depositors of 2000 notes! Notice can come from IT

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2000 rupee note: The Reserve Bank of India has decided to withdraw Rs 2000 notes. Since then people have been reaching out to banks to exchange their Rs 2000 notes or deposit them in their bank accounts. On the other hand, if you are going to the bank to change 2000 rupee notes, then you can get 10 notes of 2000 rupees changed, but do you know in which case you can also get a notice from the Income Tax Department? Let’s know about it…

Rupee. 2000

If a transaction is debited according to the limit given by RBI, then the notice of Income Tax Department does not come. But if there are more transactions in the bank account, then the Income Tax Department can ask questions. According to tax experts, if a large amount is deposited in a savings account or current account, the question may arise as to where the money came from.

Income tax department

On the other hand, if more than Rs 10 lakh is deposited in the savings account, the Income Tax Department can ask questions on this transaction. If the account has Rs. Cash deposits of more than 10 lakh are to be reported in the Statement of Financial Transactions (SFT). Apart from this, reporting in SFT is done for cash deposits of more than Rs 50 lakh in current bank accounts.

Income tax

At the same time, if you get a notice from the Income Tax Department, then there is no need to panic. This does not mean that any action will be taken against you. Income Tax Department can ask, where did so much money come from? All the correct information has to be given about him and the source of money has to be mentioned. However, action can be taken if the source of money is not disclosed.

RBI Governor’s big statement, ‘Shopkeepers cannot refuse to take 2000 notes, if…’

After the announcement of Rs 2000 note being out of circulation, there is tension among the people that what will they do with this note now. However, RBI has made it clear that there is no need to panic about the Rs 2000 note. Now you can exchange 2000 note in the bank, as well as go to any shop, you can easily buy goods with this note because no shopkeeper can refuse to take this note.

RBI Governor Shaktikanta Das has said that the objective of introducing Rs 2000 note has been achieved. 2000 rupee notes will be exchanged and deposited under the system itself, so that common people do not face any problem. Banks have been instructed to be fully prepared for this. Along with this, RBI Governor Shaktikanta Das said that you can easily buy 2000 note items by going to the shop.