should I need to pay tax
This query is : Resolved
22 May 2016
If I keep more than 5lakh in my saving account is it tax payable??
22 May 2016
there is no tax on keeping of earning... tax is leviable on generation of income. if you generated income in 1 fy exceeding 2.5 lakh tax is chargeable
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1 times
22 May 2016
500000 in one fy ..than income tax leviable
Message likes :
1 times
22 May 2016
Tax is not payable if you keep any amount in saving account but you have to pay tax income. Like as you told that this amount is earned by network marketing, so Income (Profit) from network marketing and interest earn from saving bank interest.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
Message likes :
7 times
22 May 2016
More than 10 Lacs transaction amount in any financial year and not filling income tax return will track you through notice from income tax dept. if your earning is in your savings account then there is no issue about holding that amount in banks. IT dept.will watching your transaction if you don't provide proper source of income thats why now dept are asking for all banks accounts details of filler to check the situations.
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3 times
23 May 2016
Wow what a attitude....asking a query and when a very senior expert is replying you about this that notice may come you are showing attitude. Same on you. Learn to respect.
Message likes :
5 times
23 May 2016
I have seen your attitude on morning.. I just enquired about a thing generally... here also in my place I have CA.. so it better to keep in touch with him... for general enquiry I asked here due to lack of knowledge..
23 May 2016
We are just trying to improve your knowledge about Income tax compliance. It is better if you contact your CA . We here to help them who really required it.
Do not post same query again and again.
Do not post same query again and again.
Message likes :
4 times
23 May 2016
you are not trying to improve my knowledge .. you are trying it to make it your business... here people are posting their enquies for getting proper replies but what you do.. U take it to convert as your bussiness... I don't need your consultation...
Message likes :
1 times
23 May 2016
Query has already replied but if your want professional service for return filing and computation of profit and income that it is chargeable service. Do not contact us on phone for free professional services.
Message likes :
4 times
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