Cash deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2012
If we deposit cash in bank 45000 per day for continue more than 9 days .. if there any tax implication on it?? cash on hand as on date shown in balance sheet is 450000. can bank ask for pan for depositing 45000 daily for 10 days?????
30 May 2012
PAN is to be furnished only if the DAILY deposit amount is Rs. 50,000 or more.
If you deposit a sum of Rs. 45,000 daily bank will NOT ask for PAN.
However, be ready to furnish an explanation to the department regarding the source of the cash.
If you deposit a sum of Rs. 45,000 daily bank will NOT ask for PAN.
However, be ready to furnish an explanation to the department regarding the source of the cash.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2012
thanks a lot
30 May 2012
You are welcome. You should use the thanks button to convey your thanks.
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