cash deposit
This query is : Resolved
Nikhar Parpyani
(Querist)
13 November 2016
my mother has Rs.200000 in bank a/c now.Her cash in hand in books is now showing an amt. of Rs.16.5lakh...Can the whole sum be now deposited in bank??
Nikhar Parpyani
(Querist)
17 November 2016
can i get the answer for it???
Sandeep Dharar
(Expert)
21 November 2016
Yes u must have to deposit the amount, coz u r left with no other option as the old currency is of no use. Better to deposit the amount ASAP. U must have to pay the Tax with penalty if u are guilty for evasion of tax. And if u can explain the cause of accumulated fund then no need to worry at all.
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