Cash
This query is : Resolved
13 October 2013
How many rupees we can keep in indivdual?
13 October 2013
For wealth tax you should not keep more then 50,000 else it will be included in definition of asset for cal wealth tax.
CA Pallav Singhania
(Expert)
13 October 2013
Agree with Expert,
Only for Individual & HUF Cash in hand(in excess of 50,000) chargeable to Wealth Tax...
Only for Individual & HUF Cash in hand(in excess of 50,000) chargeable to Wealth Tax...
13 October 2013
Hi
No limit for keeping cash in hand, but maximum to the extent accounted in your books.
If you keep cash above Rs. 50000 then it is taxable under wealth tax act if your income is Taxable under WT act.
Thanks//VaibhavJ
No limit for keeping cash in hand, but maximum to the extent accounted in your books.
If you keep cash above Rs. 50000 then it is taxable under wealth tax act if your income is Taxable under WT act.
Thanks//VaibhavJ
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