CA Sandeep Kanoi
CBDT has vide Notification No. 41/2015, Dated-15th day of April, 2015 Notified ITR-1 ITR-2 ITR-4S ITR-V for A.Y. 2015-16 with several Changes. In such ITRs CBDT has for the first time required an assessee to Compulsorily provide details of all Bank account held in India (including in joint names) at any time during financial year 2014-15 including details of those which were closed during the year.
Assessee has to provide the following details :–
Format of Schedule BA of Newly prescribed ITRs which mandates disclosure of Bank Accounts is as follows :-
Details of Bank Accounts held in India at any time during the previous year
|Number of bank accounts held by you at any time (including opened/closed) during the previous year|
|Sl.||IFS Code of the Bank||Name of the Bank||Name of Joint holder(s), if any||Account Number||Account balance as on 31st March of the previous year|
Question which needs Clarification in respect of Disclosure requirement of Schedule BA Whether the word “All Bank Accounts” includes Recurring Deposit A/c, Fixed Deposit A/c, Time Deposit A/c, Loan A/c besides Saving and Current A/c?