considration of savings as blackmoney?
This query is : Resolved
17 November 2016
if a person files tax return every year but does not deposit his cash in a bank then will his savings be considered as black money?
18 November 2016
No it will not be a black money.
18 November 2016
then what if he deposits more than 10 lac in his bank account? is there any chance of getting notice from IT department? or in case if the notice is received what would be the reply??
19 November 2016
Notice will be received from IT dept, reply to the notice the money is saved out of tax paid earnings and return of income is regularly filed and applicable tax paid.
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