Huge savings bank balance

AIR is file by banks too .....and it depends on transaction by assesee

thanks 

AIR is filed by the bank everyyear. If there are no transactions in the SB account and the balance is carried forwarded. Do banks submit AIR only if the bank balance exceeds a certain threshold?

Any ideas on this one?

Banks file AIR to report transactions and not balance.

that too more than 10 lakhs

What kind of transactions?

Are you saying Banks will file AIR ONLY if the customer deposits or withdraws CASH only exceeding 10 Lakhs in a Year?

And it does not include neft/cheque withdrawal/deposit?

Apart from this anything else?

IF you are mantaining  this much balance in your saving bank account  then you are making a huge mistake  because  banks file AIR  to the income tax deptt.  and  INCOME TAX   can take action  regarding this issue. you must not maintain this much balance in your savign bank account.

You have to give clarification to the deptt. in this matter when  the deptt. approaches you for the same.

If you can prove that the money in the saving account has already been taxed by filing ITR over the years, then nothing to worry.

My Client says it is converted back from his dollar account which he converted to resident account.

I dont think dollar account is taxable. but interest earned in resident account is.