Cash deposit and withdrawal in bank question
This query is : Resolved
Kollipara Sundaraiah
(Querist)
17 March 2022
Sir,
1.cash deposit and withdrawal transaction limit in bank sb and current bank account one financial year
2.cash deposit and withdrawal transferred transaction through on google pay and phone pay and paytam modes limit for one financial year.
Question:
1.above mentioned cash deposit and withdrawal limit for gst registered and it returns filed person for one finical year.
2.above mentioned cash deposit and withdrawal limit for gst non registered and non it returns filed person one financial year.
1.cash deposit and withdrawal transaction limit in bank sb and current bank account one financial year
2.cash deposit and withdrawal transferred transaction through on google pay and phone pay and paytam modes limit for one financial year.
Question:
1.above mentioned cash deposit and withdrawal limit for gst registered and it returns filed person for one finical year.
2.above mentioned cash deposit and withdrawal limit for gst non registered and non it returns filed person one financial year.
CA R SEETHARAMAN
(Expert)
18 March 2022
There is no such limit for cash deposit and withdrawals in SB or current account.
Cash deposits above 10 lacs will be reported to income tax.
Non filing of ITR and non reporting income commensurate with deposit will attract notice from income tax.
Cash deposits above 10 lacs will be reported to income tax.
Non filing of ITR and non reporting income commensurate with deposit will attract notice from income tax.
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