13 March 2017
An individual being salaried taxpayer has made investment in NSC of Rs. 40000/- in name of wife in financial year 2010-11. Now, it got matured in Mar'17 i.e. after six years for Rs. 60000/-.
Now, the wife want to make investment in FD in her name. Whether it is safe to invest Rs. 60000/-. Whether any notice from ITD may be served for being exceeding Rs. 50000/- or she should invest for an amount below Rs. 50000/-.
Please advise for which amount she should proceed for investment.
Expert :
Anonymous
Expert :
Anonymous
(Expert)
13 March 2017
No need to panic as long as the source of investment
Expert :
Anonymous
Expert :
Anonymous
(Expert)
13 March 2017
No Notice will be served
Expert :
Anonymous
Expert :
Anonymous
(Expert)
13 March 2017
No need to panic as long as the source for investment is genuine and income out of
Expert :
Anonymous
Expert :
Anonymous
(Expert)
13 March 2017
**typo error
No need to panic as long as the source for investment is genuine and income is within the taxable limit. In your case no notice will be served.