While mentioning bank account nos in itr form is it necessary to mention PPF bank account no. and Pension bank account no? because as per instructions it is all saving and current bank account nos. Little confusion.
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Bank account no. in itr form
Replies (8)
you have to mention all saving and current account
Yes , You Have to mention All the bank details
Dear Malhar,
No you need not to mention your PPF and Pension accounts because it's required your savings bank accounts only.
Regards,
Naveen Singh
9716822331
No you need not to mention your PPF and Pension accounts because it's required your savings bank accounts only.
Regards,
Naveen Singh
9716822331
Agree with @ CA Naveen Singh
Thank you all. two three different answers. Hence in confusion.
Is it compulsory to mention all the bank accounts in ITR form?
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Gaurav Chopra, Founder at IndiaLends
Answered Aug 3, 2017
It is mandatory to mention the details of all bank accounts held at anytime during the financial year in ITR form. Only accounts that have been in-operational or dormant for the past 3 years can be left out. Even joint bank accounts must be reported in the income tax return.
When providing the bank details, you must include the name of the bank, type of bank account (current or savings), and its IFSC code. Taxpayers have to choose where they want to receive refund, irrespective of whether there is a refund due in the return or not.
I would personally advise you to report all bank account in the ITR form. This is because, nowadays all banking data is consolidated by linking important documents such as Aadhar and PAN to bank accounts. So an account which has not been listed will be discovered anyway, which will then reflect badly upon you at a later stage. So, why take risk for a later stage when you can prevent it?!
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Gaurav Chopra, Founder at IndiaLends
Answered Aug 3, 2017
It is mandatory to mention the details of all bank accounts held at anytime during the financial year in ITR form. Only accounts that have been in-operational or dormant for the past 3 years can be left out. Even joint bank accounts must be reported in the income tax return.
When providing the bank details, you must include the name of the bank, type of bank account (current or savings), and its IFSC code. Taxpayers have to choose where they want to receive refund, irrespective of whether there is a refund due in the return or not.
I would personally advise you to report all bank account in the ITR form. This is because, nowadays all banking data is consolidated by linking important documents such as Aadhar and PAN to bank accounts. So an account which has not been listed will be discovered anyway, which will then reflect badly upon you at a later stage. So, why take risk for a later stage when you can prevent it?!
Thank you
No, not required.
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