Cash deposit exceeding rs 1000000
This query is : Resolved
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
(Expert)
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.
It would advisable not to deposit this much cash in one financial year.
07 December 2015
But sir I can deposit rs 1000000 in separate three account.
CA CS Jainam Shah
(Expert)
07 December 2015
Yes you can.
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
(Expert)
07 December 2015
No.. They will not report.
07 December 2015
Dear sir howmuch netprofit is required to avail to loan of rs 800000
CA CS Jainam Shah
(Expert)
07 December 2015
It depends on many factors. It does not depends on only net profit criteria.
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
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
(Expert)
07 December 2015
I can't understand you.
07 December 2015
Dear sir exemption under section 54 and 54 ec is avail by assessee if return file after due date on octomber
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
(Expert)
07 December 2015
Post new query in expert section.
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
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
