Chartered Accountant
12739 Points
Joined December 2016
transfer of funds is connected to filing of ITR in the following cases :
1. where a person has withdrawn FROM bank account(s) more than Rs. 1 cr in the preceding FY then TDS shall be deducted by the Bank over and above Rs. 1 cr @ 2% u/s 194N
2. where a person deposited in a current account(s) more than Rs. 1 cr in a Bank then in such a case filing of ITR is mandatory .