ITR Filing list of bank accounts

Eswar Reddy S (CFO- at NHTF) (56586 Points)

05 March 2022

Is it mandatory to show all bank account numbers & IFS Codes in ITR filing for individuals not liable to tax audit ?

If a salaried person change the job then there will be one savings account in each employment..How many bank accounts we need to show ?

Is it okay if we show only income earning bank account details ?

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18 Replies

CA Surya Sekar (CFO ) (1331 Points)
Replied 05 March 2022

Try to add all bank account numbers . Atleast the accounts from which income accrue or araise in India

sabyasachi mukherjee (21452 Points)
Replied 05 March 2022

Not necessarily.
it's optional.

Susmita Dutta, CA , CPA (CA ) (2141 Points)
Replied 05 March 2022

Yes you can show only income accruing bank account details.

1 Like

Eswar Reddy S (CFO- at NHTF) (56586 Points)
Replied 05 March 2022

What will happen if we show only latest salary account & it is validated ?

Other bank accounts are not shown in ITR

CA Puja Sharma (Chartered Accountant) (4858 Points)
Replied 05 March 2022

As per the IT form, it is mandatory to report all the bank accounts of the taxpayer.

If you do not report all the bank acoc*nts, it is expected that someday you might receive a query from the department.

Eswar Reddy S (CFO- at NHTF) (56586 Points)
Replied 05 March 2022

What kind of query ?

CA Surya Sekar (CFO ) (1331 Points)
Replied 05 March 2022

As of now there are no strict penalty clause for non disclosure of all bank accounts..But it may come general violations.

It's better to disclose all bank account details in ITR.Atleast all major income earnings related bank accounts should be disclosed in ITR

Eswar Reddy S (CFO- at NHTF) (56586 Points)
Replied 05 March 2022

If major income is salary and salary related bank account details are given in ITR and it's already validated.

Why other bank account details required ?

Joint accounts , Paytm bank account , personal accounts , Is this Accounts required ?

sabyasachi mukherjee (21452 Points)
Replied 06 March 2022

Nowadays bank account , pan , mobile and adhaar is linked.

Eswar Reddy S (CFO- at NHTF) (56586 Points)
Replied 06 March 2022

Is this the answer to above question ?

sabyasachi mukherjee (21452 Points)
Replied 06 March 2022

You do not have to be worried.

Eswar Reddy S (CFO- at NHTF) (56586 Points)
Replied 06 March 2022

There is no worry but waiting for perfect answer..

Shankar Rugge (369 Points)
Replied 06 March 2022

As a law abiding citizen u have to declare all accounts in bank where u r first or sole holder. It reduces chance of scrutiny as you r completely transparent.