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Itr -1

RUPESH DESHMUKH (ACCOUNTANT) (83 Points)

27 July 2016

One My friend his total saving bank a/c-3 , can i show Compulsory 3 A/c in ITR-1,

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3 Replies

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 27 July 2016

Yes, you have to show all 3 S.B. accounts. However, It is not compulsory to provide details of accounts which are dormant. For this purpose any accounts which have been in-operational for the past 3 years are considered as dormant.
Assessee has to provide the following details :–
1)Number of bank accounts held by you at any time (including opened/closed) during the previous year
2)IFS Code of the Bank
3)Name of the Bank –
4)Name of Joint holder(s), if any
5)Account Number
Account balance as on 31 st March of the previous year– In case the account is closed during the
year, in the column for account balance as on 31st March mention “closed”.