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ITR Filing list of bank accounts

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JJJ

JJJ (Need help) (673 Points)
Replied 06 March 2022

If it's a savings account as mentioned in the initial query, then it is an income earning account.

Which means it needs to be included in the return. Even if you closed an account on 1 April, it still existed during the tax year, so it needs to be included, per the rules.

The thing is the authorities already know the details of all the accounts you have. The point of asking you to mention all of them in the return is to catch you if you fail to list even one.

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Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 06 March 2022

But there are lakhs of people who don't even file ITR.. Atleast we instructing the people to file ITR on time .

Samantha J

Samantha J (1236 Points)
Replied 20 March 2022

All bank accounts have to be reported mandatorily! No leeway in this!

Eswar Reddy S

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 21 March 2022

Yeah .Law is law and all bank accounts have to be reported


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