Cash deposits column in itr form ay(17-18)

Efiling 914 views 6 replies

Malhar Deshpande

219 Points Joined May 2016

Respected Sir,

I have on query about this column in Taxes paid and Verification sheet of ITR1.AY(17-18)

The heading of the column is Cash deposited during 09/11/2016 to 30/12/2016 and in bracket it is mentioned as

(if aggregate cash deposits during period is equal to or more than 2 lakh)

that mean if any person has deposited equal to or more than 2 lakh cash, only has to fill up this column. Otherwise person deposited less than 2 lakh need not to fill this column. I am confused.I have deposited 23000 rupees.The column can not be left blank. Now if I have not deposited any cash and write zero then it is ok. but if I write 23000, then it will be wrong because of what is written in bracket.

Sir, I will be grateful to you if you give me advice on this.

Thank you

Replies (6)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

198600 Points Joined July 2016

It should be left blank, if aggregate amount deposited does not exceed 2 lakhs.

Malhar Deshpande

219 Points Joined May 2016

Sir, if you keep it blank pop up appears saying column cannot kept blank

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

198600 Points Joined July 2016

Yes Sir, you are correct. But it accepts 0, so go with 0 or 23000, if you wish.

ashish

M.Com

238 Points Joined July 2013

Sir,

my client asking to me if i am deposited and not shown in itr so what ?

as early as give me reply,

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

198600 Points Joined July 2016

@ ashish: please refer: https://www.itatonline.org/articles_new/s-270a-the-entire-law-on-penalty-for-under-reporting-and-misreporting-of-income-explained/

Dinesh Chanchalani

2 Points Joined November 2016

What is meant by aggregate deposits?

If I deposit Rs 125,000 in current account (for a proprietor-ship) and another Rs 110,000 in personal savings account, aggregate of both accounts is more than Rs 2 lakhs. But, since the 2 accounts represent different things - that is, one account was deposited with cash from doing business and the other account was deposited with personal cash, then will aggregate be considered as more than 2 lakhs? Do I need to specify deposits in such a case?