Bank deposit limit
This query is : Resolved
23 August 2015
hello experts,
if a person open a new bank a/c(assuming he opens it in first time) without pan card and he deposit in it about र् 5 lac then whether he has to pay tax in it....
if a person open a new bank a/c(assuming he opens it in first time) without pan card and he deposit in it about र् 5 lac then whether he has to pay tax in it....
23 August 2015
According to the provisions of Income tax act if you are assessee means having liab to pay income tax or say having income more than threshold limit as prescribed in relevent act, u are liable to pay taxes.
if income from this account is more than 10 k bank will automatically deduct your tax @30.09% / or 20 % not having pan.
if income from this account is more than 10 k bank will automatically deduct your tax @30.09% / or 20 % not having pan.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Opting our of sec 44AD
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Value of property in capital gain
- Copyright software
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
