ITR
This query is : Resolved
Paras Phutela
(Querist)
08 February 2017
should i file an itr,,if i am earning below 2,50,000/- annually ??
Sandeep Dharar
(Expert)
08 February 2017
Not mandatory for u to file return. But better to file a nil return instead of not filing the return.
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Paras Phutela
(Querist)
08 February 2017
how much cash should i submit in bank ,if i filed an itr of 2,45,000 ??
Paras Phutela
(Querist)
08 February 2017
i mean, in saving account,,
Sandeep Dharar
(Expert)
08 February 2017
There is no limit on cash deposit if u can explain the source from where the cash is being generated. But still I'll say to make it below 1L in a FY.
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Paras Phutela
(Querist)
08 February 2017
but if someone wants to deposit 4 lakh in a FY,,then acc. to u sir,,,how much income to show in an itr ?????
CA PARAS BAFNA
(Expert)
08 February 2017
You have to maintain a cash book. It will guide you how much cash you are having from valid sources. Show your income in such a manner that on that particular date your cash balance is 400000 or more.
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