cash deposits by salaried person
This query is : Open
YOGESH SOMA JADHAV
(Querist)
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
CA. Vinodh Kothari
(Expert)
26 November 2016
You can deposit the cash in your account no need to pay tax on the same.
VK
VK
YOGESH SOMA JADHAV
(Querist)
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- 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
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
