Under Tax payers Information (TIS) there is reporting related to Purchase of term deposits as Gross Purchase Amount but in actual the source is coming from closing the Previous Term Deposit and Reinvesting can any one suggest how The Income Tax personals will be known that these are reinvested
2 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 29 May 2023
There is no need to be worried about this as you can easily prove to them that this was a reinvestment. It doesn't matter if they know it by themselves. If you wanna discuss this in detail, I'm leaving the details in your inbox.
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