LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Withdrawl limit

Balaji (Director) (27 Points)

18 August 2016

What will happen if i withdraw 15 or 20cr from my company account at once..will there be any issue in doing this?? Is it possible to withdraw such a big amount at once??pls do help me

Reply
Follow
Share

6 Replies

Balaji (Director) (27 Points)
Replied 18 August 2016

Pls help me in this friends

Bharath (C.A,C.S) (3983 Points)
Replied 18 August 2016

Hi,

Deposit and withdrawl are normal transactions happening for each and every company. There will not be any issue with the same.

Regards

Bharath

Balaji (Director) (27 Points)
Replied 18 August 2016

Is it possible to withdraw such a big amount at once??

Bharath (C.A,C.S) (3983 Points)
Replied 18 August 2016

Yes Mr Balaji. There is no limit on the amount of withdrawl. It entirely depends upon business need and situations. No one will ever ask you a question for the same. In case of Income tax assessement, they may look upon the nature of withdrawl and purpose.But if you have a strong reason to support the withdrawl and its utilisation, you will not face any issues in IT also. Even 1 Rs or 1 crore dosent matter.