Investment exceeding rs. 50000/-

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2017 An individual being salaried taxpayer has made investment in NSC of Rs. 40000/- in name of wife in financial year 2010-11. Now, it got matured in Mar'17 i.e. after six years for Rs. 60000/-.

Now, the wife want to make investment in FD in her name. Whether it is safe to invest Rs. 60000/-. Whether any notice from ITD may be served for being exceeding Rs. 50000/- or she should invest for an amount below Rs. 50000/-.

Please advise for which amount she should proceed for investment.

Expert : Anonymous

Expert : Anonymous (Expert)

13 March 2017 No need to panic as long as the source of investment

Expert : Anonymous

Expert : Anonymous (Expert)

13 March 2017 No Notice will be served

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Expert : Anonymous

Expert : Anonymous (Expert)

13 March 2017 No need to panic as long as the source for investment is genuine and income out of

Expert : Anonymous

Expert : Anonymous (Expert)

13 March 2017 **typo error No need to panic as long as the source for investment is genuine and income is within the taxable limit. In your case no notice will be served.