Sir,
A person itr filed previous 5 years income and expenses show in it returns details mentioned below
Income :
1st year:5 lacs
2nd year rs:6 lacs
3rd year rs:7 lacs
4th year rs:8 lacs
5th year rs:9 lacs
Expenses:
1st year rs:1,50,000/-
2nd year rs:2 lacs
3rd year rs:2,50,000/-
4th year rs:3 lacs
5th year rs:3,50,000/-
Income rs:35,00,000 minus expenses rs:12,50,000/- net balance rs:22,50,000/-
Question:
Assessess rs:22,50,000/- amount investment in bank fd correct .
No. ₹22.50 lakh is only the theoretical surplus after expenses. The assessee can justify a ₹22.50 lakh FD only if the ITR income/expenses/ geometry dash spam and actual cash flow, opening balance, and other investments/withdrawals support that amount.
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