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income tax declaration

priyanka naik (35 Points)

16 January 2019

if I declared in income tax about tax saving deposit is it necessary to declare same for next year

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 16 January 2019

No.

Exemption available only for first year.

priyanka naik (35 Points)
Replied 16 January 2019

I had invested last year but not declared in income tax .this year I have to declare it how I should declare investment (principal amount invested last year) or interest gained this year

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 17 January 2019

This year you have to declare interest accrued over the FD.

Aditi Ahuja (Financial Advisor) (106 Points)
Replied 17 January 2019

It is necessary to declare all your income while filing income tax. Every time or every year when you are going to file your income, it is necessary to declare all your savings.

The reason is dynamical nature of finance industry. It may be you have disclosed your that particular scheme, or you have started investing in new one. Or it may also possible that Govt or court has declared an update for that particular plans.

So it is always required to declare all your income while filing income tax every year. However the income tax exemption you can claim only one time.