is it mandatory to mention all savings account numbers in the itr form or can i just mention 1 where i want the refund.
12 Replies
S. Shiroor
(Others)
(1207 Points)
Replied 26 August 2015
Yes All savings current CC accounts need to be mentioned.
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 27 August 2015
Since this year its mandatory to mention all the SA and CA that you have pan India.
isha
(Student CA Final )
(27 Points)
Replied 27 August 2015
yes, all banks saving acc. no. along with their branch detail and ifsc need to be mentioned...
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 27 August 2015
No, mentioning all saving and current accounts in ITR is not mandatory but you should show all account details. If you show only one account details, ITR will get validated but not showing all running account details will be treated concealment of data which may be harmful.
In Brief, mention no. of running accounts and refund (if any) will be transferred to the first mentioned account. In the next column 'Other account details', mention other account details also.
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 27 August 2015
No, mentioning all saving and current accounts in ITR is not mandatory but you should show all account details. If you show only one account details, ITR will get validated but not showing all running account details will be treated concealment of data which may be harmful.
In Brief, mention no. of running accounts and refund (if any) will be transferred to the first mentioned account. In the next column 'Other account details', mention other account details also.
Member
(CA Job)
(85 Points)
Replied 27 August 2015
Not required to mention all bank acount details.
What is the logic behind mentioning all the bank account details.
IF we mention all the bank details, does that mean we have not concealed any income chargeable to tax.
Kiran. S
(CTO)
(745 Points)
Replied 27 August 2015
If the return filed by you in the eyes of IT Dept appears ficticious and does not match with receipts n banks then IT dept may have to ask the bank acc and IFSc code to check in. If ur caught - Gone case -you will be asked for explaination.
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 27 August 2015
"What is the logic behind mentioning all the bank account details.
IF we mention all the bank details, does that mean we have not concealed any income chargeable to tax."
For the purpose of getting information of bigger transactions income tax has asked for mentioning all accounts information. Point to be noted that the department has asked to mention Active Account Details and not those which are not in running position.
Think for a while, you have 3 active accounts but you mentioned only 1 account. Now, Banks submit some transactions details of their customers to IT department. And by this way the IT department may come to know your other accounts activites. If you are assessed by IT department, it will ask you that you have other accounts but why did you mention only 1 account then what will you say?
So, it is advised to mention all active account details.
Jaspal Singh
(Practising CA)
(449 Points)
Replied 27 August 2015
Yes ,details of all current and savings accounts need to be filed.
M.R.Marimuthu
(Tax Consultant)
(64 Points)
Replied 29 August 2015
From this year you have to show all the bank account details which is sb account or cc account or od account;If you are not disclose all the bank details.you are hiding your details to the department.If any credit come to your account other than you mentioned in the itr form they can easily find out
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