is it mandatory to pay tax on bank balance every year if it is not increased and remained the same?
if no amount is credited to bank account for the whole year?
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Bank balance
Replies (4)
1. Income tax is to be paid on income generated during the financial year
2. whether it is received or not in your bank is another part
3. it may be possible that you may receive your payments in cash
4. dont consider bank balnce as basis for Income Tax Liability
Your bank balance is not Taxable...!
Your incomes only under Taxable above ceiling limit... So, Don't worry for the balance
thank you sir
You are welcome....
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