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is liable for penalty?

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(Querist)
16 November 2016 if a salaried person is having cash upto 1cr as saving and he had filed the itr on regular basis under 30% slab on his salaried income which is 12 lacs, But he had no withdrawls from bank in last two years. is he liable for penalty of 200%? or he can deposit 2.5 lacs on regular basis in his saving bank account? what will be the other solutions in this case?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 November 2016 As the saving is not commensurate with the income penalty will be applicable for cash deposit exceeding 2.50 lacs.
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Anand

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Anand (Expert)
16 November 2016 you may not be able to justify 1 crore of savings against meagre income.
this case is prima facie fit for levy of penalty
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