ONE PSU BANK DENIED ITR AS INCOME PROOF & ISSUED CHARGE SHEET TO CSO - Jugal Shukla

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Saturday, June 13, 2020

ONE PSU BANK DENIED ITR AS INCOME PROOF & ISSUED CHARGE SHEET TO CSO


ONE PSU BANK DENIED ITR AS INCOME PROOF & ISSUED CHARGE SHEET TO CSO ,I SAY BANK’S ACTION IS ILLEGAL ,ITR IS A PUBLIC DOCUMENTS & ONLY INCOME TAX DEPT HAS RIGHT TO RAISE ITS GENUINENESS

Income Tax Return is the form in which assessee files information about his Income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.
The Income Tax Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income Tax Department at the end of every financial year An income tax return is a legal document that stands as  proof of income. Even if you are not eligible for filing a return and are not mandated by the Income Tax department, 

 the income tax department does not ask you to submit any documentary evidence to substantiate the claim made at the time of filing ITR. The ITR is filed on the basis of self assessment
 but the income tax department has the right to ask you to prove the claims in the ITR by sending you a notice. Indian evidence act-74  says ITR is a public documents because it is  kept in the custody some special authority.  So only this  authority has right to question about genuineness of ITR , bank has not produced any evidence from income tax dept who says that the “ITR” that bank has accepted while financing some loan are false or fabricated ,so without bringing any evidence in rebutting ITR is illegal thus it’s a blunder on part of inquiry authority not to accept ITR as income proof

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