Cash deposit
This query is : Resolved
04 July 2018
Sir / madam,
Is there any tax implementation for depositing more than Rs. 10 lacs in saving banks per financial year
Is there any tax implementation for depositing more than Rs. 10 lacs in saving banks per financial year
04 July 2018
THIS TYPRE OF INFORMATION TRANSFER TO INCOME TAX DEPT. THEN IT IS IN THE HAND OF I TAX DEPT TO STEPS.
04 July 2018
Bank is obliged to report it and it will reflect in your Form 26AS also. If you have not filed returns you will receive an SMS that there is information regarding income in your account and you ought to file returns. If you have already filed returns if such information does not match up to your known source of income in returns then you could get a notice. Verification is done in Computer aided manner or even manually.
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