Cash withdraw by proprietor
This query is : Resolved
16 September 2020
how much cash can a proprietor able to withdraw from business in a financial year and a single day
16 September 2020
No limits as no other person is involved. It's his business fully owned by him. It's like withdrawal of cash from his bank account.
16 September 2020
Proprietor can withdraw the amount from your SB or CA by way of cash as and when you require. There will be no problem. But banker will furnish the details of large amount of cash withdrawals I.e more than 10 lakh to Income tax department as statement of Financial Transaction report by Banker
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