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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- TDS 194R on GST effected
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
