cash deposits by salaried person
This query is : Open
25 November 2016
My mother has saved almost 50,000 over last 10 years by saving it from domestic expenses and she does not have bank account , besides for medical emmergency 7000 cash is available... will i be able to deposit it in my account ..whereas i am on the edge of tax bracket of 10 %. would it be any possibility , where i need to pay tax or i may receive income tax notice ..if i deposit this cash before 30th dec 2016.. pls.. assist asap
26 November 2016
You can deposit the cash in your account no need to pay tax on the same.
VK
VK
26 November 2016
thnk you very much.. sir..
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