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..
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
