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AIR INCOME TAX

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(Querist)
23 January 2017 SIR I have received maturity proceed amounting to RS 12 LAKHS from LICIon August 2016 and the amount is directlt credited to my Bank.I have made a F/D of 12Lakh out of that amount .Will bank notify it to income tax department through AIR.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 January 2017 Yes deposit more than 10 lacs will be notified. But you will not face any problem being the source is from maturity of LIC policy.

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