Fixed deposit from past saving
This query is : Resolved
29 March 2022
Sir,
I am earning since 2009 due to my annual income is basic limit so I have never file itr I am saving from Rs.around Rs 1 Lacs in each year from salary. Salary deposit by company in my salary account which was opened by company in his state. We have transferred some amount from salary account to my other saving account for FDR.In April 2020 I have made fd in for Rs.5 Lacs for 3 years and 1lacs for one year after completed one year fd value included interest credit in my saving account.
In April 2021 I have made one more fd in for Rs.2 Lacs for 3 years.In FY 2020-21 my annual income bit increased from basic limit and July 2021 I have filed ITR for Rs.268000 salary + Interest from FD and saving account.
So can I make one more fd for Rs.1 lac 50 thousand or note can I face any issues/ notice from IT department for my past saving. I have deposit Rs.2 Lacs in cash in past 12 years.in my saving account
Please suggest
I am earning since 2009 due to my annual income is basic limit so I have never file itr I am saving from Rs.around Rs 1 Lacs in each year from salary. Salary deposit by company in my salary account which was opened by company in his state. We have transferred some amount from salary account to my other saving account for FDR.In April 2020 I have made fd in for Rs.5 Lacs for 3 years and 1lacs for one year after completed one year fd value included interest credit in my saving account.
In April 2021 I have made one more fd in for Rs.2 Lacs for 3 years.In FY 2020-21 my annual income bit increased from basic limit and July 2021 I have filed ITR for Rs.268000 salary + Interest from FD and saving account.
So can I make one more fd for Rs.1 lac 50 thousand or note can I face any issues/ notice from IT department for my past saving. I have deposit Rs.2 Lacs in cash in past 12 years.in my saving account
Please suggest
30 March 2022
You will not receive any notice from income tax department for such small deposits. You have also filed ITR no problem.
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30 March 2022
Yes, you can make the FD without any hesitation. You have sufficient source of Income for the FD's to be explained if required.
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