16 November 2016
if a salaried person is having cash upto 1cr as saving and he had filed the itr on regular basis under 30% slab on his salaried income which is 12 lacs, But he had no withdrawls from bank in last two years.
is he liable for penalty of 200%? or he can deposit 2.5 lacs on regular basis in his saving bank account? what will be the other solutions in this case?
CAclubindia
