Income Tax Notices to all the Customers who bought a New Car

Who had bought new cars after November 8^th there was chance that they will get IT Notice. Customers who purchased new car after November 8^th Income department sent notices to all the dealers National wide.

Customer need to give the details how the car was purchased with cash payment, cashless payment or by cheque and Invoice papers, Number plate details on which date new car was booked how much money was taken by the particular dealer.

After gathering all these details by the Income Tax department. Income Tax Department goes through all the details and Issues Income Tax notice to all the customers from January 1^st who bought new car after November 8^th.

IT Department passed orders to all the Customers after receiving the IT Notices they have to give there bank account details and statements. Income Tax got a doubt that after banning 1000rs and 500rs currency notes people started to buy the new cars to change Black money to White Money  

Again a Shocking News from Central Government about 500 rupees and 1000 rupees Notes

As we know Central gave a shock by banning 500, 1000 rupees Notes which are in use  up to November 8^th 2016 and now again central government planning to give a shock, preparing ordinance according to this ordinance if people have 500, 1000 rupees banned notes more that 10,000rs records as crime. If the amount is more than 10,000. Fifty Thousand fine will be charged and if the amount was collected by the officers 5 times fine will be charged to the collected amount. In Special Cases, those cases will deal in front of Magistrate fine will be issued. By the grace period 30^th December all the banned notes should return to the Reserve Bank of India. Central Government is planning to release this ordinance by this 30^th December 2016.  

According to 80% of running currency 15.44 Lakh Crores are there, By December 13^th about 12.44 Crores deposited to the banks. Economic experts saying that by December 30^th, 13 to 13.5 Lakh Crores deposits will be deposited to the Reserve Bank of India. TO deposit all the Banned Notes to the Reserve Bank OF India is 30th December of this Month.