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investments in FD

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(Querist)
08 February 2011 my client wants to invest in bank FDs for amt. 10-15 lakhs in current financial year to take benifit of high rates in 91 days FDs.
weather it is possible that the IT dept will track such inverstment altough not in AIR list.
to raise query on client in future for this transactions.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
08 February 2011 You must have proper explanation as regards the funds invested as deposits above Rs 10.00 lac are reported elsewhere also.
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Guest (Expert)
08 February 2011 Make the investment only by cheque.
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