Depositing relative money in bank account
Querist : Anonymous
Now your answer is correct.
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however it is personal transaction and if single credit/debits not exceeds 10 lakhs it department will not aware of this and it will be fine
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In case if such int do not exceed rs 2,00,000 in aggregate and other income of assessee earning int income is below rs2,00,000 then even this int will not be taxed provided the total income from deposit is not more then 10,000 else tds will be deducted and later refund has to be claimed via filling itr resp.
Querist : Anonymous
Come to the points on query, the experts has given you a good response on you.
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