29 August 2025
One salaries person deposit cash more than one crore in FY .2024-25, in his saving bank account. which is related to other person business receipt. Which is day to day transaction cash collection and deposit daily in 1-2 days at bank.
Please suggested solution, how to deal with problem and how to file ITR and which ITR (under which section) in this case. how much income to be declare
30 August 2025
Under Section 269ST of the Income Tax Act, 1961, if you receive more than ₹2 lakh in cash from a single person in one transaction or multiple transactions related to the same event, you could be hit with a 100% penalty! That means you lose every rupee you received!
02 September 2025
Dear Sir, if any person running resturant business, mostly received sale in cash and he deposit into bank. in this case how deal with cash receipets with same amount depsoit into bank (cash one cr.)? please suggest proper solution of the above matter.
02 September 2025
For business people it's allowed for cash deposit in current account based on turnover reported in IT return. You are not doing any business and cash deposit in savings account so it's not allowed.allowed.
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