consequence if i deposit 250000 each in two accounts with same name
This query is : Resolved
abhishek singh
(Querist)
13 November 2016
Dear sir I want to know what will be the consequences if i deposit rs 250000 each in my two accounts of different banks. Both accounts are Pan linked. Pls answer in respect of current surgicak strike by Modi ji.
Shudhanshu Agrawal
(Expert)
13 November 2016
Dear Abhishek,
Under Income tax act your PAN is considered as the identity of business. In other words, you will be assessed on the basis of your PAN. In the above situation, your deposition amount will be added from all the accounts maintained by you in all the banks having same PAN.
Under Income tax act your PAN is considered as the identity of business. In other words, you will be assessed on the basis of your PAN. In the above situation, your deposition amount will be added from all the accounts maintained by you in all the banks having same PAN.
abhishek singh
(Querist)
14 November 2016
thanks for the repl y sir. that mean if PAN did not link with the accounts, I could deposit the same
Dhirajlal Rambhia
(Expert)
17 October 2021
Yes, that could be a chance for not getting identified...
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