AS we all know most of the assesses get notice for A.Y. 2013-14 for various reasons. Here in this article we are trying to tell you what is the reason behind this.

Recently Income tax department has started sending notices to non-filers for the assessment year 2013-14 & onward & are also using the said information to verify under-reporting of income. In  below points certain list of items are there if you have done this type of transaction in that year then you will get notice. or if you haven't file your return then also you will get notice. 

1. Annual Information Return(AIR)

AIR-001: Cash deposits aggregating to Rs. 10,00,000/- or more in a year in any savings account
AIR-002: Paid Rs. 2,00,000/- or more against credit card bills
AIR-003: Investment of Rs. 2,00,000 or more in Mutual Fund
AIR-004: Investment of Rs. 5,00,000/- or more in Bonds or Debenture
AIR-005: Investment of Rs. 1,00,000/- or more for acquiring shares
AIR-006: Purchase of Immovable Property valued at Rs. 30,00,000/- or more.
AIR-007: Investment in RBI Bond of Rs. 5,00,000/- or more

2. Central Information Branch (CIB)

CIB- 94: Sale of Motor Vehicle ( If made)
CIB-151: Transfer of immovable property
CIB-154: Transfer of capital assets where value declared for the purpose of stamp duty is more than sale value
CIB-157: Purchase of Immovable property valued at Rs. 5 lakhs or more
CIB-183: Time deposit of Rs 1,00,000/-
CIB-185: Purchase of Bank Draft of more than Rs. 50,000/- in cash
CIB 321: Share Transactions more than Rs. 20,000/-
CIB-403: Investment in Fixed Deposit/Time Deposit exceeding Rs. 2,00,000/-
CIB-406: Payment made against Credit Card more than Rs 2,00,000/-
CIB-410: Cash deposit aggregating of Rs 200000 on a day
CIB-502: Contract of Rs. 10,00,000/-or more in the Commodities Exchange
CIB-514: Interest paid by co operative credit Society ( give info)
CIB: Payment in connection with foreign travel amount exceeding Rs. 1,00,000/- at one time
CIB: Payment to Hotel and Restaurants exceeding Rs. 1,00,000/- at one time

3. TDS return

TDS-94A: TDS Return – Interest other than interest on security (section 194A) (TDS return late filed or not filed.)
TDS-92B: TDS Return – Salary to Employees (section 192) ( TDS Return failure or not filed.)

4. Service Tax ReturnEXC-002: Turnover from services reported in Service Tax Return ( Turnover stated in income tax return and service tax return not matched)

5. Stock Broker

STT-01: Purchase of equity share in a recognised stock exchange ( if purchase sale made and Security transaction tax paid)
STT-02: Sale of equity Share (settled by actual delivery or transfer) in a recognised stock exchange ( STT Paid)
STT-03: Sale of equity Share (settled by otherwise than by the actual delivery or transfer) in a recognised stock exchange. ( Commodity Trading)
STT-04: Sale of option in securities (derivative) in a recognised stock exchange
STT-05: Sale of Futures (derivative) in a recognised stock exchange

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