Dear experts ,
wish to know that ,
i am regular tax payer , i run a coaching . In a year i earn 2 to 3 lacs .
50% of earned money i deposit in a bank so that i gain some interest on it , rest of the money for my personal use .
I am filing ITR since 2011 . My year wise return detail ( approx )
In 2011 i filed ITR = 1 lakh 80 thousend in which i spend 50 thousend , deposited in bank 50 thousend , 80 thousend in my home
In 2012 i filed ITR = 2 lakhs in which i spend 70 thousend , deposited in bank 80 thousend , rest 50 thousend in my home
In 2013 i filed ITR = 2.20 lakhs in which i spend 60 thousend , deposited in bank 80 thousend , rest 80 thousend in my home
In 2014 i filed ITR = 2.50 lakhs in which i spend 90 thousend , deposited in bank 90 thousend , rest 70 thousend in my home
Now i want to deposit my all money in bank that i have kept in my home 80+50+80+70= 2.80 lakhs ( to save from theif ) . Can i deposit this money in my bank account or Will ITO consider this amount as my income of current financial year and It will club with my current financial year income . Guide me please . What should i do now ?
CAclubindia
