Savings

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Synonymous (Querist)
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25 October 2015 Dear All, I am a salaried person & my total income does not cross basic exemption limit of 250000/- My question is that suppose I have deposited in my account cash which is my mother's savings then while filing of return what should I write ie income from where? & which ITR should I file. My total income comes from Salary, bank int & my mother's savings( eg 20000 or 25000) which she is saving from long time. Whether i show my mother's savings which she gave me for depositing in my bank as commission income from xyz source (i.e. fake source ) I am filing return for the first time. Waiting for your valuable suggestions. Thanks in advance.

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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25 October 2015 No you should show only your income , nothing else.

If you want to create white capital, just take it as loan from mom, & i feel you will end up paying tax for no reason by doing this fake entries of commission.

Feel free to contact

CA Ankur Mehta
+91 94283 19758

Synonymous

Synonymous (Querist)
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26 October 2015 Thank you CA Ankur Sir for your suggestions My another question is that the money which I have deposited in my account ie cash of my mother then what should I show in my ITR & which ITR should I file. Because Assessing Officer my ask for that deposit in my account for eg from where you have received this cash then what should I speak.

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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 October 2015 For that you have to show this as your mother income you deposited n bank, but from now on wards you should deposit cheque from your mother & not cash.
other wise it will create problem for you. If your income is not much more, no big deal they will not gonna see it. & If are true in every sense no need to worry.

Feel free to contact me any time

M.No. +91 94283 19758