Director of income tax issued me 133(6)

Hi,

Hope you are doing well !!

Notice under this section is given to the taxpayers or related parties for the purpose of seeking certain details of transaction undertaken during the year under consideration.

However, even if there are no transactions undertaken, the person who receives such notice from the income tax department is required to give reply stating his factual position.

The person cannot ignore such notices as it may lead to fines and penalties and further actions by the issuer of the notice.

Thanks & Regards,

Payal Chhajed

Dear Sir,

Notice under section 133(6) is just an inquiry by the official and not an assessment. 

Just draft a suitable reply and submit all the desired documents by ITO , also if possible have a personal visit or by a professional to ITO to understand the case in better way.

Failure to comply with notice will lead to unnecessary penalty u/s 272A.

Hi

Do not ignore such notice.

If you've given an unsecured loan through cheque, there's no problem. Draft a suitable reply affirming the unsecured loan. Reply to the notice within the time limit as stipulated in the notice.

We may help you with drafting the response.

This Notice is generally given to the taxpayers or related parties for the purpose of seeking certain details of transaction undertaken during the year under consideration. However, even if there are no transactions undertaken, the person who receives such notice from the income tax department is required to give reply stating his factual position. The person cannot ignore such notices as it may lead to fines and penalties and further actions by the issuer of the notice. The officer may levy penalty of RS 10,000, if no response is furnished.  

IN any case, response should be filed when such notices are issued. IN case, you are in close proximity of the person whose details are asked for, you may discuss the reply and then file it.  It can prove helpful to close the assessment. 

- 133(6) is a third party confirmation. You need to reply in a proper format and as per the requirement of the letter. He might have asked you to submit your ITR copy, financials and bank statements. Please reply him either through email or personally or both.

Notice u/s 133(6) is just like an information from 3rd party regarding one party in whose case scrutiny is going on.

You can ask the party regarding whom information has been asked to file a reply on your behalf or you yourself can also file a reply to the officer it's a normal procedure just provide all the details. He only wants to ensure genuineness of transaction.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Hi

Dont ignore ,ignorance may lead to penalty under sec 272A. Draft a proper reply and submit to concerened official.

Since you have paid via cheque ,you may not find any issue  in proving geniuness of transaction.

Hope it helps.