Amount desposit in joint account/savinf a/c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 April 2014 If someone deposits say Rs 1lac in my Saving account or joint account with spouse what is Income tax implications ?
Will Income tax departement ask details.
I pay Tax under Salary

Rupesh Jain

Rupesh Jain (Expert)
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19 April 2014 under income tax joint a/c have not consider. income tax take cash/cheque come from whom ?

income or receipts taxable in hand of whose , who deposit the amount
if you deposit or withdraw cash Rs. 10 Lacs in year then Bank send your a/c detail to income tax deptt.
then income tax deptt ask to provide the source/information regarding the cash deposit or withdraw.

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