Cash deposted to bank over rs. 10,00,000/-
This query is : Resolved
Guest
Guest
(Querist)
09 November 2016
Mr. B has 2 bank account with first account holder one of State bank and another one of ICICI bank. He has deposited in SBI 7,00,000/- and deposited 6,00,000/- in ICICI bank. Now is it treated cash deposited over 10,00,000/- whether it is difference bank?
CA SUNIL K GARG
(Expert)
09 November 2016
Cash deposited in bank will be linked by PAN over different banks. Amount deposited in different bank will be accumulated to one person account vide linking with PAN. Hence this amount will be treated as cash deposited over Rs. 10 Lakhs.
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