FD from saving

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729 Points Posted on 28 March 2022
Dear Sir,

My annual income is less then basic limit So i never filed ITR but saving from salary Rs.70 k to 1 lac from 2013 also received some graudity and PF amount from my previous company. Can I face any issue from IT department if I make fixed deposit
From my savings approximately Rs.12 Lacs please suggest.
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On 28 March 2022 at 14:42 Report
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Quick Summary
An individual earning below the basic income tax limit has been saving between £70k and £100k annually since 2013, alongside receiving gratuity and PF. They are concerned about potential issues with the IT department when making a fixed deposit of approximately £1.2 million from these savings. While generally not an issue if income tax has been paid and there's no undisclosed income, having supporting evidence like salary slips, appointment letters, PF passbooks, and bank statements is crucial.

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CFO- at NHTF
58280 Points Posted on 28 March 2022
You can manage it if you have form 16 from employer
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On 28 March 2022 at 14:47
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Profession
28267 Points Posted on 28 March 2022
No issues. It department does not make you feel wrong unless there is a gross misappropriation of income or undisclosed income. The tax had been paid regularly and no notices.
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On 28 March 2022 at 15:28
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CFO- at NHTF
58280 Points Posted on 28 March 2022
Make the supporting evidence
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On 28 March 2022 at 15:29
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729 Points Posted on 28 March 2022
Sir, i don't have form 16 Salary slip and company appointment letter PF passbook is enough for supporting evidence.
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On 28 March 2022 at 17:26
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CFO- at NHTF
58280 Points Posted on 28 March 2022
Atleast bank statement ?
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On 28 March 2022 at 17:27
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729 Points Posted on 28 March 2022
Sir, Bank statement is not available because Account opening by company in Hyderabad
But I have a passbook in 5 years entryeis.
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On 28 March 2022 at 18:02
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CFO- at NHTF
58280 Points Posted on 28 March 2022
Supporting documents and explanation should be there .Else it may not be easy to handle SCN..

It depends on how you manage it
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On 28 March 2022 at 18:56

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