Savings ac/s Misconception..
This query is : Resolved
20 November 2016
Sir I regularly deposit 10000 rs in my savings ac...each month.But I want to know whether this saving will also be included in income tax return under any head..as I have also deposited some money after demonitation... whether any Asseingofficer can ask me how u save rs10000 each month.. and as the basic meaning of savings ac is savingmoney..
21 November 2016
sir pls answer me
21 November 2016
If the savings is out of exempted income or from tax paid income it will not be again considered as income. If asked for you can tell the source of income for savings. Deposit of old currency above 2.5 lacs will be questioned by IT dept. No problem if you tell the source of income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Specified Profession
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
