Purchase of flat/home with fdrs amount
This query is : Open
04 June 2017
i am an indivual of 43 yrs age. I have buiness income and interest income, which i have shown in buiness ITR-4 and ITR 4S. Upto AY 2014-15, i have filed ITR 4 and ITR 4S since AY 2015-16. If now I purchased a Flat / house / Plot, from FDRs amount i.e approx 26,00,000/- , then plz tell can i purchase this from my FDR amount or not? Whether IT deptt send me notice for investing of Rs. 26 lakhs in property? I have saved money year by year and invest it into bank FDRs year by year. And also show interest income in ITR i.e. income from other sourcrs. Whether I should keep Photo copies of Bank FDRs to show IT deptt, if I will received any notice? Please suggest and oblize
CA Rashmi Gandhi
(Expert)
04 June 2017
You can invest such amount in FD without any problem.As income is properly disclosed by you in ITRs there is very less possibility of getting notice. But pay through bank only.
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