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Cash Deposit

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(Querist)
06 March 2021 I am a trader.My customer has deposited Rs.170000/- directly to my Bank account without any intimation. The bill value for him is Rs.223456/-.

1. Any penalty can be levied ?
2. What is the limit of cash deposit in my Bank account by the debtors?
Plz guide me sir
thanks in adv
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 March 2021 1 No penalty as cash deposited less than 2 lacs.
2 The limit is less than 2 lacs.
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