way of Money deposit
This query is : Resolved
16 November 2016
plz suggest this situation
1) can anyone deposit rs.250000
in one's more than one account each??
2) Is there any issue if I had never filed return of income and I deposit 10 lac in my four accounts in my name 250000 each?
3) these are my savings over years not black money .plz suggest how can one face it?
17 November 2016
Hi
2.5 Lacs is basic exemption limit applicable to assesee for no tax However in your case your incomes are more than that limit you are liable for tax payments . Also Limit is applicable for One assessee and for all accounts combined,not separately
2.5 Lacs is basic exemption limit applicable to assesee for no tax However in your case your incomes are more than that limit you are liable for tax payments . Also Limit is applicable for One assessee and for all accounts combined,not separately
17 November 2016
sir
is my savings would be liable to provisions of undisclosed inome section 68 and liable to penaly 200% ??
17 November 2016
I have never filed return before
17 November 2016
You can file return for two years.Show income accordingly and pay proper tax on it.
17 November 2016
You can file return for two years.Show income accordingly and pay proper tax on it.
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