28 June 2015
If an assessee (indicidual) does not disclose all the bank account in the ITR held by him as on 31.3.2015 would it become a defective return and what will be its consequence?
28 June 2015
I think, disclosure of all the bank account is not an mandatory. It is only recommendatory.
Disclosure of one bank account is mandatory and other account is recommendatory. Because, as per the ITR-1 for the AY 2015-16, only one account i.e., primary bank account is marked in red colour and other bank accounts are black colour.
Only, red marked coloumns are mandatory and other coloumns are not mandatory.
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