Fixed deposits
This query is : Resolved
raghavendra b
(Querist)
23 March 2016
Dear Madam/Sir,
One of my client made fixed deposit in his wifes name, in the financial year 2013-14, my client is retired bank employee and his wife house wife. the problem is value of fixed deposit was 4,50000/- and in a single deposit by cash. now my client has received the notice from income tax department that wheather your declared income of interest in the above mentioned financial year or not. my query is wheather income tax department asks the source of income of fixed deposit or not.
please tell me how to deal with this problem
regards
One of my client made fixed deposit in his wifes name, in the financial year 2013-14, my client is retired bank employee and his wife house wife. the problem is value of fixed deposit was 4,50000/- and in a single deposit by cash. now my client has received the notice from income tax department that wheather your declared income of interest in the above mentioned financial year or not. my query is wheather income tax department asks the source of income of fixed deposit or not.
please tell me how to deal with this problem
regards
Ankur Singhal
(Expert)
23 March 2016
Dear
In my opinion they will ask about the source of funds.
This is the question of prime concern.
In my opinion they will ask about the source of funds.
This is the question of prime concern.
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