cash deposit in bank by customer
This query is : Open
MOHAMMED ASGAR Bhati
(Querist)
18 June 2017
Dear Experts,
Please clarify on cash deposited by the customer directly to our bank account will be considered as cash transaction or will consider transaction through bank U/S 269ST.
Bank details are with customer for doing RTGS to our account.
CA Rashmi Gandhi
(Expert)
18 June 2017
It is considered as cash transaction u/s 269ST.
CA R SEETHARAMAN
(Expert)
18 June 2017
RTGS transfer of funds by customer will not be treated as cash deposit. But cash deposit by customer in our bank account will be considered as cash deposit and 269ST penalty applicable.
MOHAMMED ASGAR Bhati
(Querist)
18 June 2017
how much penality ??? If a customer deposit cash 100000 in current account against sales.
CA R SEETHARAMAN
(Expert)
18 June 2017
Equal amount penalty for cash deposit exceeding 2 lacs
CA Rashmi Gandhi
(Expert)
19 June 2017
Equal to 100% of amt u/s 269ST
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
- Query on effect of registration of property
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Whether output tax is taken credit by purchaser
- Additional trade name
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
