27 September 2012
Dear Sir, Suppose an assessee who has deposited 6 lacs on the first day of FY and 5 lacs on the second day of the FY in his saving a/c.
Whether the bank will report the said transactions of assessee in AIR or not.
27 September 2012
A bank is required to file AIR return u/r 114E. In ur case as the amount in a year has exceeded Rs 10 lakhs , therefore bank will submit ur name in such return.
CAclubindia
