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Tax on Savings account deposit

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(Querist)
26 February 2010 An unregistered dealer deposit more than Rs. 50 lacs in Savings account during a year. Whether he is liable to pay any tax for the same under any heads of income. Please reply.. Thank u...
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Rasesh

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Rasesh (Expert)
26 February 2010 The interest wuold be taxable under the head income from other sources.
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Professional Careers Academy

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Professional Careers Academy (Expert)
26 February 2010 yes, i agree...
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