Cash

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NIKHIL NARANBHAI VAGHASIYA

NIKHIL NARANBHAI VAGHASIYA (Querist)
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13 October 2013 How many rupees we can keep in indivdual?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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

CA Pallav Singhania (Expert)
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13 October 2013 Agree with Expert,
Only for Individual & HUF Cash in hand(in excess of 50,000) chargeable to Wealth Tax...

@VaibhavJ

@VaibhavJ (Expert)
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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

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