Savings over the years

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B.com
3025 Points Posted on 25 October 2021
assess savings rs:2 lacs for year and his total accumulated capital is rs:20 lacs in last 10 years.
question:
assess then how to show this accumulated capital in it returns.
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On 25 October 2021 at 18:40 Report
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Quick Summary
This discussion addresses how to accurately report accumulated capital on income tax returns. It clarifies that savings from multiple years cannot be declared in a single tax filing. Instead, each year's income tax return should reflect the corresponding year's savings and investments to maintain proper documentation.

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SEO Sai Gr. Hosp.
212535 Points Posted on 26 October 2021

Savings of last 10 years cannot be shown in one year. Each years' IT return with corresponding investment should authenticate it.

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On 26 October 2021 at 08:36
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Chartered Accountant
24588 Points Posted on 26 October 2021
Agree with above
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On 26 October 2021 at 10:02

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