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income tax declaration
if I declared in income tax about tax saving deposit is it necessary to declare same for next year
Replies (5)
No.
Exemption available only for first year.
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
This year you have to declare interest accrued over the FD.
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.
I had invested in NSC for 5 years on my mother's name and nominee is below my name can I show in IT declaration
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