Can anyone tell me if post office saving accounts are also included in the definition of banks for the purpose of filling of disclosure of bank account details in the income tax return; specially for the newly inserted column of amount deposited during demonetisation period
Suppose a person has deposited more than 2 lakhs in the post office savings account during demonetisation, does this detail also needs to be disclosed in the return?
If yes, then how IFSC and other details need to be filled
Post Office Savings account will fall under the requried disclosure. Account number and Date of opening given in Pass book. Amount you enter anything above 2 lacs. I believe IFSC is IDDIIND1XXX for all post offices regarding India Post. Any further improvements will be appreciated.
CAclubindia
