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How to read section numbers: s.80C→s.123 means Section 80C of the Income-tax Act, 1961 is now Section 123 of the Income-tax Act, 2025 (in force from 1 April 2026). Returns for FY 2025-26 still use the old numbers; Tax Year 2026-27 onwards uses the new ones. Section Finder
Typical triggers
- Cash deposits above ₹10 lakh in savings accounts in a year
- Property purchase or sale reported by the registrar
- Large credit-card payments, share or mutual-fund investments
- Verification of a vendor or contractor's turnover
Writing the reply
Answer exactly what is asked, attach supporting documents and mention whether the transaction is reflected in your return for that year (with the ITR acknowledgement number). Keep a copy of everything submitted.
Common mistakes
- Ignoring it because it is ‘only information’
- Over-sharing unrelated documents
- Contradicting the return already filed
Frequently asked questions
Yes — non-compliance can attract penalty and can lead to reopening based on the unexplained information.
Last reviewed on 11 November 2026 by Vinay Jaglan, VJ & Associates. Law and portal screens change — verify before acting, or ask the office.
