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is Bank account necessary for filling

Nandan Sarma (Article Assistant) (325 Points)

11 July 2011

is Bank Account necessary for filling ITR 4 if there no tax to be paid or any question of TDS refund.

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5 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 11 July 2011

bank account details are integral part of ITR, as you are telling about ITR4 so a business owner must have bank accounts, furnish the same to ITO, they will not peek into it, but keep record of your database only.

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Nandan Sarma (Article Assistant) (325 Points)
Replied 11 July 2011

ITR 4 is not only for business owners but professionals also.does they also require Bank Account?.means without Bank Account,one cant file ITR IV.

CA Anil Sah (Jr. Manager (F&A) PSU) (139 Points)
Replied 11 July 2011

Agreed with above, if no refund matters in involved the same is only for department daba base purpose.but its mandatory.

Nandan Sarma (Article Assistant) (325 Points)
Replied 11 July 2011

ok.another question,suppouse someone wants to file a return for this Assesment year,but didnt have a Bank Account on 31st March of the relevant previous year.but now has a Bank Account.Will it be enough or we need a Bank Account having transaction for the Previous Year.

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 11 July 2011

ITR asked for a bank account which belongs to the assessee, where they can send refunds, not a bank account where from you operate your business( usually business accounts are not in name of assessee but in name of proprietorship firm).