All eminent experts please advice.

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abhishek agarwal (Querist)
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10 November 2016 I am a CA final student,pursuing my articleship in a big four firm. The recent policy of demonetisation is actually a game changer.I respect Our PM Mr.Narendra Modi a lot and is in support of this decision. with just one sweep entire Black Money will be wiped out. I need an advice on my savings. I have saved Rs.500000 which i accumulated by giving tuitions to class 10,11and 12th students. I use to tech them.Maths and Accounts. I use to collect cash from them and normally i use to charge Rs7000 - 8000 per subject from.my students. in the FY 2014-15 and 2015-16 the only bank hit i am receiving is my stipend of Rs15000 and reimbursements of expenses . I want to know how can i plan my deposits so that i have to pay minimum tax further i have never filed an ITR. i am 22years old A resident of india. Will be waiting for you valuable responses

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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11 November 2016 Since you are not filing your ITR and not preparing your statement of affairs you are advised to deposit not more than Rs. 250000/- (basic exemption limit). Entire deposits is to be made in one account in single shot.

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