Latest AnswersCategory: Income taxsft-006-transactions-in-form-26as
Satish Kumar asked 2 weeks ago

I am a salaried person. I found SFT-006 transactions of Rs. 44 lakhs updated by Bank in my Form 26AS. However, I paid the total aggregate amount of Rs. 8 lakhs against the bills raised. Here, bank considered the overall transactions for the total financial year. But as per IT department the clause was mentioned as \\\”Payments made by any person of an amount aggregating to i) Rs. 1 lakh or more in cash; or (ii) Rs. 10 lakh or more by any other mode, against bills raised in respect of one or more cards issued to that person, in a financial year\\\”. As per this statement, Bank should consider the aggregate amount as per the bills. But Bank considered the overall transactions and reported the Rs. 44 lakhs in Form 26AS. Shall I get any query from It department and how to proceed in this case. Your advice and help is greatly appreciated.

1 Answers
ADMIN Staff answered 2 weeks ago

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