do we have to declare the dormant bank accounts too in the itr this year?...also if an account was dormat last year and i have shown the income but not declared the account & i have actived the account now so is it ok to show it now or will it lead to problems as to y it was not shown before blah blah?
1 Replies
Bharat bhushan
(Chartered Accountant)
(143 Points)
Replied 29 June 2017
If you show in this year it will not lead to any problem and any person should all his/her bank accounts, it is for only reporting purposes, if you do any big transaction in cash through your bank account it will automatically reach to department through AIR, so it is not possible that if you hide any of your account you will be more safe.
So always show all your bank accounts.
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