i open new account in bank on 01/04/2008 and my total credit in the bank pass book is above Rs. 10,00000/- from 01/04/2008 to 28/02/2009. as per Annual Information Report ( AIR ) i have to report the Income Tax Department if my total Receiving in bank is equal to Rs. 10,00000/- . I am confuse whether it will be aggregate for the wohle year or one time deposite in the single day fro Rs. 10,00000/-
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total credit above rs. 1000000
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'and my total credit in the bank pass book is above Rs. 10,00000/-'
if this is about your account, then you dont have to report this. its the bank's reponsibility!!
Nikhil
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