Dear Sir
please advise suppose a person have annual income is less the 250000/-not filed income tax return.he is saving Rs.8K to 13k per month from his salary from approximately Year 2010.in 2017-18 and year 2018-19 he opened 3fd approximately value 8 lac all 3 FD will be renewal in 2nd week of May.so if a person opened one more fd Rs.4 lac does he can face any issues or notice from bank or income tax department.
please suggest in case
2 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 March 2021
No problem, Another FD can be opened
Prathyusha Varma
(ArticleShip)
(393 Points)
Replied 31 March 2021
Its better to file income tax return incase if he gets notice also one can show return has source. if you get notice now you need to prove the source of funds
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