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Disclose deposits of Rs 2 lakh or more new ITR forms

Disclose deposits of Rs 2 lakh or more new ITR forms

Saturday, April 1, 2017, 11:49 AM

Those who deposited cash of Rs 2 lakh and more in their accounts during the demonetization drive will have to make a declaration in their income tax returns for the fiscal year that's just ended, as a follow-up to the government's efforts to eliminate black money through the note-swap exercise. "This will reduce the compliance burden to a significant extent on the individual taxpayer."
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