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Shubham Sharma
Hello, my financial income is zero. And there is fixed deposit in my account that is going to mature soon do i need to pay tax on the interest that i am going to receive on fixed deposit.
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Vk
If we deposited total 10 lakh rs throughout 1 year in a current bank account & again deposited 8 lakh rs throughout 2nd year, do i need to pay tax of 1st year account balance with 2nd year account balance ?
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Tax is always payable on Income and not on the deposits. However please not if you are not filin ITR & deposited high value amount in the account then IT department may ask your source of income & if they are not satisfied with your reply the amount will be treated as your income & will be taxed alongwith Interest & penalty.
For further consultation you can approach us at ca.rahuldwivedi@gmail.com or 9004485377.
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Shubham Sharma
Hello, my financial income is zero. And there is fixed deposit in my account that is going to mature soon do i need to pay tax on the interest that i am going to receive on fixed deposit.
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Sagar Malhotra
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Jatinder Garg
Sir merenko ik query hai
Sir mai 2016 mei ik firm mei 10% ka partner hu aur statring mei mene koi salery b ni li statring mei project 4 cr ka tha jisme mene 10 lakh cash aur ik home as bank gurntee diya tha ab 5 saal bad project 10 cr ka hai aur loan amount b jtada hui hai aaj ki date mei agr m apna hissa niklata hu to kaise hoga mei sirf working partner tha with 10 % loulyalty aur ab ye question b arise ho rha hai agr is sal 1cr profit aata hai to kya m 10 % mangne ke elligable hu ja nahi
