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Cash at hand

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 August 2013 dear friends
Is there any limit for cash at hand imposed by I T rules in India.What if I show 2-3 lakhs as cash at hand as a self employed professional.Any penalties, rewpercussions, disallowance etc.Kindly elucidate.
THanks
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
19 August 2013 There is no rule in IT Act which fix the limit of cash in hand.
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