Cash deposit exceeding rs 1000000

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alpesh (Querist)
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07 December 2015 Dear sir I have 3 saving account whether I can deposits each bank rs 1000000 and this limit is applicable to one account only or not

CA CS Jainam Shah

CA CS Jainam Shah (Expert)
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07 December 2015 There is not limit of depositing cash. But if you deposit cash more than Rs. 10 Lakhs in one financial year then bank will report it under AIR (Section 285BA).

It would advisable not to deposit this much cash in one financial year.

alpesh

alpesh (Querist)
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07 December 2015 But sir I can deposit rs 1000000 in separate three account.

CA CS Jainam Shah

CA CS Jainam Shah (Expert)
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07 December 2015 Yes you can.

alpesh

alpesh (Querist)
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07 December 2015 But sir I can deposit 800000 in separate three account.total amount 2400000 whether in this case bank will report air or not

CA CS Jainam Shah

CA CS Jainam Shah (Expert)
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07 December 2015 No.. They will not report.

alpesh

alpesh (Querist)
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07 December 2015 Dear sir howmuch netprofit is required to avail to loan of rs 800000

CA CS Jainam Shah

CA CS Jainam Shah (Expert)
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07 December 2015 It depends on many factors. It does not depends on only net profit criteria.

alpesh

alpesh (Querist)
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07 December 2015 Bank manager see that gross total income or net profit for 3 yer to avail above loan.please understand you to me in short example

alpesh

alpesh (Querist)
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07 December 2015 Bank manager see that gross total income or net profit for 3 yer to avail above loan.please understand you to me in short example

CA CS Jainam Shah

CA CS Jainam Shah (Expert)
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07 December 2015 I can't understand you.

alpesh

alpesh (Querist)
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07 December 2015 Dear sir exemption under section 54 and 54 ec is avail by assessee if return file after due date on octomber

alpesh

alpesh (Querist)
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07 December 2015 Dear sir if the asseessee with draw amount from NHAI BOND AFTER 3YEARS WHETHER IT IS TAX FREE INCOME AND HE CAN USE THISE AMOUNT IN THE BUSINESS OR NOT

CA CS Jainam Shah

CA CS Jainam Shah (Expert)
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07 December 2015 Post new query in expert section.

alpesh

alpesh (Querist)
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08 December 2015 Dear sir please give me replay only once...

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