Demonetisation
This query is : Resolved
29 December 2016
Suppose pre demonetisation,I had 3 crore rupees deposited in bank account which was not disclosed with IT dept and in books of accounts too,what will be the fate of this account?
29 December 2016
From this ac pay 50% income tax on the amount deposited. From the balance amount 25% pay towards Pradhan Mantri Garib Kalyan Deposit scheme a four year deposit without interest. Balance 25% you can withdraw and utilize it.
29 December 2016
No, In case of pre monitisation deposits pay advance tax 30% and file the return.
29 December 2016
thanku Sir n suppose return already filed and this is my undislosed acc so can i make fd of this sum?
29 December 2016
You can't make FD of this sum.
29 December 2016
You can opt for the post monetisation scheme also why not.
29 December 2016
but since such balance is already in bankong channel even before demonetisation, why cant I make fd
29 December 2016
You can make fd after payment of applicable taxes.
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