30 June 2024
Sir, Assessess itr returns filed last 5 years details mentioned below Income last 5years rs:35 lacs Expenses claim last 5 years rs:12,50,000/- Net balance amount rs:22,50,000/- Assessess amount fixed deposit in bank rs:30 lacs Question: Assessess deposit amount rs;22,50,000/- or rs;30 lacs is correct procedure.
30 June 2024
When the FD is made for 30 lakhs, the correct value remains the same. In case of any query, assessee need to explain the source for the additional capital.
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