Demonetization- rtgs & neft -scrutiny.

Dear sir 

After 9 Nov 2016, I have redeemed equity Mutual funds units of value Rs. 25,00,000  and the same amount is deposited in my savings bank account which is linked to the trading account through RTGS and NEFT. After couple of days the for entire amount I have purchased liquid Mutual funds and the entire amount got debited from the bank account. Now the balance in the savings account is less than 2,50,000.

Whether IT department  scrutinize the above transaction using termis and conditions which are applicabe during demonization period from Nov 9 to Dec 30 - 2016.

Thanking you.







All transactions are through electronic means. Present demonitisation scheme is aimed at cash transactions only.

Scrutiny by IT Department is based on certain criteria.

You need not worry because even if scrutiny is taken up you have details of transactions which are by electronic mode. Having a bank balance above Rs.2,50,000/- is not a crime




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