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It return filling

Shyam Tripathy (Student) (74 Points)

25 March 2016

While Return Filling, In the Compliance Tab, of Related Information Section, CIB 181, AIR 001, etc codes regarding Cash Deposit of 10 lacs or more in a Savings Account and Cash Transaction of 1 Lac or more respectively are given to comply. When the assessee has deposited his own funds during several times in a year and when urgently required withdrawn some cash from the account, then, what is the suitable option that needs to be selected before giving the final submission of compliance to IT Dept Online..??

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3 Replies

Abhijeet Deshpande (Co-Founder & Manager @ Tax-Yantra) (1171 Points)
Replied 25 March 2016

Give the reason as Investment/ Expenditure is made out of accumulated savings or own funds.

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SANGAMESWARAN.N (Senior accountant) (116 Points)
Replied 25 March 2016

In part of related information summary, you have to choose the suitable option like self-investment/expenditure from accumulated saving or self income from transaction exemption from tax,etc.**(choose according to, your nature of transaction)**

and in the part of filling income tax return, you have to provide proper clarification about your sources of fund and it's application.

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Shyam Tripathy (Student) (74 Points)
Replied 16 June 2017

1. In Part of Income Tax Return Filling, In Balance Sheet the same has to be displayed or there is any specified page to reflect the same?

2. In The Sources and Application of Funds "Only the Specified Amounts be Shown" Or "The Comolete dataz of the assessee regarding sources and Application of Funds be shown"?

3. If the assessee is Filling Return where no books of accounts are maintained due to presumptive Business income, then how the cash transaction be shown and where to be shown in ITR4-SUGAM?