Ashok Thakur (Senior Lawyer and International Law Consultant) 19 November 2016
What I understand is that you have Savings Bank Account in Union Bank of India at it's Amravati Branch, in which you received a transfer deposit of Rs. 18,23,835/- after TDS by BSNL, Mumbai.
Thereafter, you lended Rs. 18,22,835/- to your Brother and other relatives and received back the same Union Bank of India, Amravati Branch, and thereafter deposited the same in your another Bank Account at Central Bank of India.
1. Was there any compelling specific reason to do so ?
2. Do you have the RECEIPT of TDS on interst paid by Union Bank of India ?
3. If yes, what is the necessacity of proving or establishing the deposit made at Central Bank of India is the same amount that you received from BSNL as your Death and Retirement Benefits ?
I need the above answers before I advise you as an expert.
SHARAD CHANDRA DANEJ (Asstt. Manager) 21 November 2016
Its easy to prove that you have given loan to your relatives if you have made payment to them by cheques. They too must have given you cheques when they returned the money you lent them. Moreover you have the entries in your passbooks of both the banks. You need not worry at all. you have already paid TDS on this amount which you can very well show if asked by tax authorities. Nothing to worry. Be relaxed.
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email@example.com 971794 (Advocate) 26 November 2016